The yen jumped against the dollar today, with traders citing yen-buying intervention by Japanese authorities as a trigger for the bounce in a currency languishing at levels last seen over three decades ago.
The dollar tumbled to a low of 154.40 yen from as high as 160.245 earlier in the day.
Banking sources said Japanese banks were seen selling dollars for yen.
The U.S. currency was last trading at 156.22 yen.
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