MARKET NEWS
Sharp Spike in Japanese Yen Stokes Currency Intervention Worries - BARRON'S
The Japanese yen powered nearly 3% higher on Thursday, trading at the lowest levels against the U.S. dollar since late May, stoking speculation of currency intervention from financial authorities in Tokyo. The yen has been hovering at the lowest levels against the dollar in more than four decades, and traded as low as 163.87 in early Thursday dealing, before spiking to 158.55. The dollar/yen cross stands out in currency markets by the fact that a lower level for the yen represents a firmer Japanese currency.
