Yen surges after officials issue final warning to markets

The yen surged 3%, the most in a day in over three years today, following stark warnings from Tokyo officials that intervention to prop up the currency could be imminent. Japanese Finance Minister Satsuki Katayama said the timing to take ‘decisive action’ in the market was nearing, in her strongest signal yet of potential currency intervention to prop up the sagging yen. Top currency diplomat Atsushi Mimura also warned that speculative moves in the currency market were increasing.

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