The yen’s sharp rise after depreciating past 160 to the dollar spurred speculation that the Japanese government and Bank of Japan had intervened in the foreign exchange market.
© Kyodo
Nikkei staff writers |
TOKYO — The Japanese yen rose sharply after briefly depreciating past 160 against the U.S. dollar on Monday morning for a fresh 34-year low against the greenback.
At one point, the currency rebounded to strengthen by 5 yen against the greenback. The yen was trading at 156.40 as of 10 p.m. here.
