Yen briefly surges to over 2-month high vs. dollar amid intervention focus
(Mainichi Japan)
TOKYO (Kyodo) -- The yen briefly surged Wednesday to the lower 155 zone, hitting a level unseen since late February, amid market speculation about another round of intervention by Japanese authorities during holiday-thinned trading in Tokyo.
The yen was trading in the upper 157 zone before it jumped to the lower 155 range at one point.
Japanese authorities stepped into the currency market last Thursday to stem the yen's rapid drop to the upper 160 level, according to government sources, in the first such intervention since July 2024.
The yen also briefly jumped to the upper 155 level from the lower 157 level against the U.S. dollar on Monday, in the middle of Japan's Golden Week holidays.
Japanese authorities have not publicly confirmed market intervention through yen buying.
Finance Minister Satsuki Katayama and top currency diplomat Atsushi Mimura called for vigilance ahead of the holidays, which run through Wednesday.
