Yen rises sharply to 155 level against U.S. dollar on intervention speculation
The yen rose sharply against the U.S. dollar on Friday, briefly reaching the mid-155 level, amid speculation of possible currency intervention by Japanese authorities. At 5 p.m., the dollar fetched 156.61-63 yen, compared with 160.13-15 yen in Tokyo at 5 p.m. Thursday.
The yen rose sharply against the U.S. dollar on Friday, briefly reaching 155.50 before weakening to the mid-156 level. Japanese authorities reportedly conducted yen-buying intervention overnight, pushing the currency into the 155 level from the upper 160 range. At 5 p.m., the dollar fetched 156.61-63 yen. The yield on the benchmark 10-year Japanese government bond ended down 0.015 percentage point at 2.500 percent. Stocks rose in Tokyo, with the 225-issue Nikkei Stock Average ending up 228.20 points, or 0.38 percent, at 59,513.12. The broader Topix index finished 1.52 points higher at 3,728.73.
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