Yen pares intervention gains as Asian tech shares surge

South Korea's KOSPI rises 18% as Microsoft fuels hopes for sustained AI spending The yen surged against the dollar, apparently due to intervention late Thursday night. © Reuters TOKYO — The yen slipped back into the 160 range against the dollar in Tokyo on Friday as an overnight rally to the 157 level, apparently triggered by Japanese currency intervention, prompted importers and other corporate customers to buy dollars, eroding some of the yen's gains.

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