Dollar Plummets Nearly 5 Yen Before Rebounding to Normal Levels

The US dollar's value plummeted nearly 5 yen in overnight trading on Thursday in New York, but rebounded to its original range around 160 yen by Friday morning in Tokyo. According to Kyodo News, the dollar fell below 158 yen in New York, only to regain strength and trade at 160.18-160.19 yen in Tokyo.

This rapid fluctuation is a sign of intervention by Japanese authorities to stabilize the yen's exchange rate. The government or central bank often takes steps to curb sharp movements in currency values when they become too extreme.

The euro also experienced changes against the US dollar and yen, trading at 1.1523-1.1524 dollars and 184.58-184.60 yen on Friday morning in Tokyo, up from its previous value of 183.69-183.79 yen in New York.