Yen edges lower in Tokyo after intervention-fuelled rally

10 articles · Updated · Bloomberg · May 1

The currency slipped on Friday morning after surging 3% against the dollar on Thursday, when Japan is reported to have bought yen and sold dollars.
A top Japanese currency official declined to confirm intervention, but people familiar with the matter said authorities entered the market and notified US economic officials beforehand.
The pullback suggests the rally could fade quickly without further support, raising the likelihood Japan may return to currency markets to bolster the exchange rate.

Could Japan's desperate defense of the yen unintentionally trigger a crisis in the U.S. Treasury market?

As its intervention falters, will Japan's next move to save the yen target global oil markets?