Yen Spike Stokes Intervention Chatter Following BoJ Rate Decision

Big moves overnight in the Japanese yen, following a key interest rate decision from the Bank of Japan, have stoked concerns of currency market intervention by officials in Tokyo that could unwind a key plank underpinning major markets around the world. The hawkish tone, however, failed to quell further weakness in the yen, which drifted to as low as 159 against the U.S. dollar before sharply snapping back to the 157.5 level in Tokyo dealing. The Bank of Japan kept its key interest rate unchanged at 0.75% o ...