Dollar's Yen Reversal Sparks Intervention Fears

The US dollar's recent gains against the yen have taken a sudden turn as it dropped by 0.6% to an intraday low of 156.50 in the Asian morning on Monday.

This reversal comes after Japan confirmed that it had engaged in joint yen-buying intervention with the United States on Friday.

The move has traders on alert for further intervention by authorities to shore up the Japanese currency, which has been under pressure due to a stronger dollar.