Yen finds footing after intervention, dollar near 6-week low on Mideast hopes

HONG KONG, Aug 5 : Currency markets paused for breath on Wednesday as pressure on the Japanese yen eased following recent bouts of intervention and a forceful show of U.S. support, while the dollar held near six-week lows on fresh optimism over the Middle East.The yen was slightly firmer at 157.60 per U.S. dollar, after easing about 0.4 per cent from Monday's high of 155.20 in the previous session. It remained well above recent 40-year lows of around 164 per dollar. The U.S. will do "whatever it takes" to support Japan's efforts to stabilize the yen, Treasury Secretary Scott Bessent said on Tuesday, after last week's joint intervention by Washington and Tokyo to buy the Japanese yen hit bearish traders. He also told public broadcaster NHK that he was sure Bank of Japan Governor Kazuo Ueda