The yen unexpectedly strengthened on Friday, raising market concern that Japan may again intervene in FX markets. A market source said Japanese authorities bought yen and sold dollars during Thursday's New York session — the first such intervention in three months — after the currency had fallen to a 40-year low. Traders flagged that an Iran war-related energy shock has pushed up living costs and that further yen weakness could amplify that pressure. USD/JPY plunged roughly 150 pips to 158.53 on

The yen unexpectedly strengthened on Friday, raising market concern that Japan may again intervene in FX markets. A market source said Japanese authorities bought yen and sold dollars during Thursday's New York session — the first such intervention in three months — after the currency had fallen to a 40-year low. Traders flagged that an Iran war-related energy shock has pushed up living costs and that further yen weakness could amplify that pressure. USD/JPY plunged roughly 150 pips to 158.53 on Friday. It is unclear what drove the move or whether Tokyo intervened again; Japan's Finance Ministry (MOF) has not responded.