Yen Spikes to 10-Week High and Sparks Intervention Chatter

Sharp moves in the Japanese yen that sent the currency to a 10-week high renewed speculation that the country is intervening in the market.

The yen surged about 1.8% in the span of a half hour during the afternoon of the Asia session and topped 155.04 per dollar. The currency later pared some of the advance, and was wrapping the session late afternoon in New York at around 156.40.