Another major warning sign is flashing for tech stocks — and it's coming from outside the U.S.

USD/JPY is drifting higher, with the yen slipping about 0.15% versus the dollar, raising questions over whether Japanese officials will intervene to halt further yen weakening. Investors are focused on the FX-policy response risk, which could drive near-term volatility if intervention expectations change.

Analysis

USD/JPY is drifting higher, with the yen slipping about 0.15% versus the dollar, raising questions over whether Japanese officials will intervene to halt further yen weakening. Investors are focused on the FX-policy response risk, which could drive near-term volatility if intervention expectations change.