In the New York foreign exchange market, the dollar-yen pair traded in the upper 161 range, hovering near 40-year yen lows and dollar highs, with caution over potential currency intervention by the Japanese government and the Bank of Japan continuing. In late trading, the yen was 0.1% higher against the dollar at 161.89 yen, briefly recovering to 161.66 yen, but not far from the 162.83 yen level touched last week. The market has priced in expectations that the Federal Reserve will implement a total of about 26 basis points of rate hikes by December, a slight retreat from the roughly 38 basis points anticipated a week ago. The dollar index against major currencies rose 0.09% to 100.95. The euro-dollar pair fell 0.11% to 1.1427 dollars, and the British pound-dollar pair slipped 0.13% to 1.3372 dollars.