Morning Bid: Yen stuck in twilight zone

A look at the day ahead in European and global markets from Ankur BanerjeeThe yen is back in the intervention zone, but its fate now appears to rest with the Fed's policy path and hopes of aggressive hikes from the Bank of Japan, after a joint operation with the U.S. failed to stem the fragile currency's decline.The currency is on track for its worst week in three months, hovering at 159.37 per U.S. dollar, inching ever closer to the crucial 160 level that could trigger another bout of intervention. Tokyo spent billions propping up the yen in April-May and with the U.S. at the end of July. It has repeatedly said it stands ready to intervene again if needed. And yet, the yen's weakness has persisted, mainly because of the interest rate difference between Japan and other major currencies. Th