The U.S. dollar briefly hit a two-month high close to the 160 yen line Monday in Tokyo, as stronger-than-expected U.S. economic data reduced expectations that the Federal Reserve will cut interest rates soon. However, market participants refrained from chasing the dollar above the threshold due to caution over a potential yen-buying operation by Japanese authorities. They conducted an apparent intervention on April 29 after the U.S. currency climbed to as high as 160.24 yen. At 3 p.m., the dollar fetched 159.70-73 yen compared with 159.81-91 yen in New York and 158.76-79 yen in Tokyo at 5 p.m….