The dollar jumped to a new 34-year high against the yen in early Thursday trading in Tokyo, briefly pushing the Japanese currency through what was considered a key line of support and reviving market speculation that the authorities in Tokyo might attempt to intervene.
The dollar strengthened above ¥153 against the dollar for the first time since mid-1990 — a line that some analysts had previously warned could represent a “line in the sand” and draw direct intervention by Japan.
Shortly after the move, Japan’s vice-finance minister for international affairs, Masato Kanda, told reporters that authorities would not rule out any measures to address excessive moves in the exchange rate.