Japanese Yen Gains Against Dollar After Likely Intervention
The yen rose against the dollar on Friday following suspected intervention. The dollar fell to a session low of 155.60 as Tokyo worked to prop up the currency.
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Japan's yen jumped 0.66% against the dollar on May 1, pushing USD/JPY to a session low of 155.60. The move follows suspected currency intervention by Tokyo authorities during the previous day to support the yen. Traders face heightened volatility as officials attempt to defend key psychological levels against persistent dollar strength.
