Yen’s Week-Long Slide Puts Traders on Guard for Intervention

Currency traders are increasingly alert to the risk of further market intervention by Japan following a 1% slide in the yen this week that has pushed it to 158 per dollar.

The yen has now retraced more than half of the gains triggered by multiple rounds of intervention in the period from April 30 through Japan’s Golden Week holidays. It traded at 158.55 as of 11:01 a.m. in Tokyo on Friday, putting it on track for its biggest weekly loss in two months.