The yen strengthened on Monday morning after Japan’s top currency official warned that “decisive action” by the government might soon be necessary.
The comments by Atsushi Mimura, vice finance minister for international affairs, were seen by traders in Tokyo as amounting to a final warning that intervention was imminent.
The yen strengthened by 0.3 per cent against the US dollar to trade close to ¥159.8 by mid-morning in Tokyo, before weakening slightly again.
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