US Treasury tells banks further yen intervention possible; yen surges

Banks told to prepare for potential operation to buy Japanese currency Japan intervened in foreign-exchange markets on Thursday, buying yen and selling dollars. (Photo by Akira Kodaka) WASHINGTON/NEW YORK/LONDON — The U.S. Treasury Department has told currency market participants to prepare for a potential additional intervention following Thursday's action by Japanese authorities to support the yen, Nikkei has learned. The yen later surged to its highest level since mid-May.

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