U.S. interest-rate rise expectations make it challenging for Japanese authorities to push back against the yen's sharp fall against the dollar, MUFG Bank's Lee Hardman says in a note. "As we saw back in late April/early May, record intervention from Japan only briefly strengthened the yen but failed to reverse the weakening trend for long." Japan might therefore be more tolerant of yen weakness in the near term as long as the pace remains gradual, he says. Finance Minister Satsuki Katayama's comments that Japan will take appropriate action on currencies as needed fall short of strongly signally imminent interventions, he says. The dollar rises 0.2% to 162.25, near a 40-year low of 162.41 reached earlier, LSEG data show. (renae.dyer@wsj.com)