The dollar suffered its sharpest one-day fall against the yen since 2022 on Thursday, dropping 3 per cent to 158.34 yen in heavy trading, as analysts pointed to what they believe was a covert intervention by Japanese authorities.
The sudden rebound pulled the Japanese currency further away from the 40-year lows hit earlier this week. The Ministry of Finance could not be reached immediately for comment, though foreign exchange markets recorded unusually high trading activity during the session.
