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Currencies

Japan stages new forex intervention to stop falling yen

Japanese currency bounces back sharply against dollar

The yen took currency traders on a rollercoaster ride during Japan's latest foreign-exchange intervention.  (Photo by Koji Uema)
Nikkei staff writers | Japan

TOKYO -- Japan's government and central bank intervened in the currency market early Saturday to support a falling yen, sources told Nikkei, triggering a dramatic rebound against the dollar.

Japan's currency surged about 7 yen in an hour during New York trading to touch the 144 yen level.

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