Yen surges 3 percent as Japan warns of intervention
The yen rose 3% after officials warned of imminent intervention. Traders suspect government buying as the currency saw its biggest daily gain since late 2022.
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Japan triggered a 3% surge in the yen on Thursday after officials signaled imminent market intervention to support the currency. It marks the largest one-day gain for the yen since December 2022, when the currency rose 3.8%. Investors face heightened volatility as Tokyo moves to curb import costs driven by regional conflict and energy prices.
