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FOREX: Yen surges against US dollar

The Japanese yen gained sharply against the U.S. dollar on Wednesday, after retracing approximately half of its increases made after a rare joint intervention by the U.S. and Japan at the end of July.

September 02, 2026

Karen Brettell/Reuters

FOREX: Yen surges against US dollar

FILE PHOTO: Holograms, which show different images and colours depending on the angle at which they are viewed, are seen on the new Japanese 1,000 yen banknote as the new note is displayed at a currency museum of the Bank of Japan, on the day the new notes of 10,000 yen, 5,000 yen and 1,000 yen went into circulation, in Tokyo, Japan July 3, 2024.

Issei Kato/Reuters

The Japanese yen gained sharply against the U.S. dollar on Wednesday, after retracing approximately half of its increases made after a rare joint intervention by the U.S. and Japan at the end of July.


It was not immediately clear what prompted the move. The yen reached a 40-year low of 163.98 before the intervention and reached 155.21 afterwards.


The yen JPY= was last up 1% on the day at 158.56 per dollar.


-Reporting by Karen Brettell; Editing by Mark Porter/Reuters

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