The yen is at risk of sliding to levels last seen in 1986, with bearish traders unfazed by the specter of government intervention to bolster Japan’s embattled currency. A slump as far as 170 per dollar — some 10-yen from current levels — is possible amid continued selling of the currency in favor of the higher-yielding greenback, according to Sumitomo Mitsui DS Asset Management Co. and Mizuho Bank Ltd. Investors see few catalysts right now, including potential yen purchases by the Bank of Japan, that would be powerful enough to reverse the momentum that’s sent the yen down almost 12% this year. Market moves since ... (full story)