TOKYO - The yen leapt on Monday, while stocks and bonds fell, after Tokyo confirmed a rare joint currency intervention with Washington to pull the Japanese currency off four-decade lows.
The yen soared as much as 1.4% in the Asian morning 155.20 per US dollar, a level last seen on May 6. The sudden surge provoked speculation among market participants of another round of intervention, following the joint action last week, with the yen surging 3.8% over Thursday and Friday.
