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Dollar Rebounds to 160 Yen Amid Intervention Speculation

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The US dollar rebounded to the lower 160 yen range in Tokyo on Friday after dropping nearly 5 yen overnight amid speculation of Japanese authorities' intervention.

The dollar fetched 160.18-19 yen at 9 a.m., compared to 159.42-52 yen in New York, and briefly marked 157.97 yen earlier in the day.

The euro was quoted at $1.1523-1524 against the dollar, and 184.58-60 yen against the yen.

In related news, the Nikkei stock index surged over 5 percent on Friday morning, with investors reassured by robust earnings releases from US and Japanese companies in the artificial intelligence sector.

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