Yen rebounds, surges over 2% against dollar - Breaking The News
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Yen rebounds, surges over 2% against dollar

Markets
Christian Baha / AY

1 min read

UNSPLASH / JUN RONG LOO

The Japanese yen rebounded on Monday after tumbling against the United States dollar earlier in the day, when the latter reached a high of ¥160.21.

The move comes as speculations that the Japanese authorities could potentially intervene to boost the weakened currency arose. Monetary policy remained in the limelight, as investors also looked forward to the Federal Reserve's next meeting scheduled for May 1. Last week, the Bank of Japan (BoJ) decided to leave its interest rates unchanged.

The dollar dropped 2.14% against the yen at 3:41 am ET, going for 154.93.

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