The Japanese currency was last at 159.1 per dollar, slightly stronger on the daySpeculators have cut bearish yen bets by the most in more than 12 years. The intervention came after the yen sank to a 40-year low of 163.99 per dollar. “In particular, if (the dollar) were to break decisively above the psychologically important 160 (yen) level, concerns about intervention could intensify further.” The week’s main event for currency markets is a run of US inflation data that has kept traders cautious and the dollar largely range-bound. China’s yuan remained near a 3-½-year high against the dollar, with the offshore yuan at 6.746 per dollar and the onshore yuan at 6.745.