Euro Plummets Against Yen Amid Intervention Fears

The Euro (EUR) plummeted against the Japanese Yen (JPY) on Wednesday as speculation about potential Japanese intervention in the foreign exchange market sent shockwaves through currency markets.

With most Yen pairs collapsing to fresh two-week lows, the EUR/JPY cross-pair sank to a low of 183.64 from its daily high of 185.75, before recovering slightly to trade at 184.03, down by over 0.89%.

The sudden strength of the Japanese Yen against the US Dollar (USD) has raised concerns about possible intervention, with analysts citing 'high intervention alert' as market sentiment remains on edge.