U.S.-Japan Intervention Lifts Yen, but Concerns Remain

(Nikkei Asia) — The yen strengthened sharply to the lower 155 range against the dollar on Monday morning, as markets remain wary of further currency interventions by Japan and the U.S.

The Japanese currency rallied to around 155.22, its strongest level since early May. As of 13:30 p.m. in Tokyo, the yen was up over 2% at around 156.51 per dollar. Last week, the yen ended trading in the lower 157 range against the greenback.