Another suspected intervention by Japanese authorities to support the yen, this time in late New York trading, ran into resistance from traders keen to keep selling the currency.
The yen weakened as much as 1.1% against the dollar to 156.28 in Asia trading, inching closer to levels before the possible intervention. Traders speculated Japan stepped in the currency market after the yen surged 3% within minutes from a level of around 157.58 per dollar to as strong as 153.04 in the final stretch of the US trading session.
