The Nikkei, citing a government source, said officials had intervened buying the currency, which had been around its weakest since July 2024 earlier Thursday.

Concerns about high oil prices are adding to inflation fears in Japan, as the BOJ just moved to rescue the yen from a roughly 40-year low.

The Nikkei 225 fell amid yen strength, rising oil prices, and sector weakness, but technology support and consolidation below 60,000 keep the overall trend bullish.

The correlation between dollar-yen and Brent crude rose to its highest level since late 2021 a day before Japanese authorities intervened in the currency market, underscoring the tighter link between oil prices and the yen.

By Chibuike Oguh NEW YORK, May 1 (Reuters) - The dollar was headed for a second straight day of losses against the yen on Friday after Japan was reported to have intervened to support its currency. Markets remained on edge after Japan’s top currency diplomat,

SINGAPORE (Reuters) -A stubbornly weak yen has Japan on the cusp of intervening in the currency market for the third time in roughly as many years, but analysts say it's likely to be ineffective and authorities must tread carefully to avoid triggering a ...

Though the government and central bank typically don’t say when they intervene in currency markets, traders and analysts said the move had all the hallmarks of an intervention.

TOKYO — Japan spent at least 5.0 trillion yen ($32 billion) in the foreign exchange market, according to multiple reports, in its first intervention to prop up the currency since 2024. The yen, trading just shy of 160 yen to the dollar,