Key facts
- The Japanese yen strengthened significantly against the U.S. dollar following the release of U.S. employment figures.
- The dollar dropped by up to 1.1% to 156.68 yen.
- Japanese and U.S. authorities previously intervened jointly to support the yen.
- Japan's finance ministry confirmed the coordinated intervention and signaled readiness for further action.
The Japanese yen experienced a sharp increase against the U.S. dollar on Friday, driven by surprisingly weak U.S. employment data. The dollar fell by as much as 1.1% to 156.68 yen, moving away from a July high of 157.1. This surge occurred just days after Japanese and U.S. authorities conducted a rare coordinated intervention to bolster the yen. Japan's finance ministry confirmed the joint action and stated that authorities are prepared to take further steps if necessary to address the yen's slide.