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The yen sat on the stronger side of 150 per dollar on Wednesday, after an unexpected surge in the previous session stoked speculation that Japanese authorities could have intervened to support the... -October 03, 2023 at 07:59 pm EDT - MarketScreener
The yen sat on the stronger side of 150 per dollar on Wednesday, after an unexpected surge in the previous session stoked speculation that Japanese authorities could have intervened to support the currency. The Japanese currency was last marginally lower at 149.17 per dollar in early Asia trade, after having jumped nearly 2% at one point on Tuesday to a high of 147.30 - a move that came after the yen tumbled to 150.165 per dollar, its weakest since October 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998.
Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. It recovered some of those losses and last bought 156.18 yen.