NEW YORK, July 30 (Reuters) – The yen rose sharply on Thursday as traders remained on alert for possible intervention by Japanese authorities to prop up the battered currency.
Against the yen the dollar was 2% lower at 160.10 yen.
Markets have been on alert for yen-buying by Japanese authorities, who have warned of action for months as currency weakness exacerbates the cost-of-living impact of rocketing energy import prices.
The Japanese finance ministry’s foreign exchange division could not be reached immediately for comment.
(Reporting by Saqib Iqbal Ahmed and Takaya Yamaguchi)
