Japanese yen jumps against dollar

New york: Japan's yen rose sharply against the dollar on Monday at a time when traders are on red alert for signs of currency intervention by Japanese authorities.

The dollar fell to 151.20 yen after hitting a one-year high of 151.92 earlier in the session. It was last trading at 151.49.

It was not immediately clear what caused the dramatic move.

Japan intervened to boost the yen in September last year for the first time since the late 1990s when it weakened to 145.89 to the dollar.

It then stepped in again in mid-October 2022 after the currency weakened further to a 32-year low of 151.94.