Japan appears to have delivered a surprise intervention to prop up the yen, possibly working with U.S. financial authorities, after weeks of speculation and as the Bank of Japan kept its policy rate steady.
The yen suddenly spiked against the dollar Thursday night in a jump that suggests intervention by financial authorities.
At around 10:30 p.m. Thursday, the yen jumped from around ¥162.80 to the ¥157 mark in just an hour.