Japanese Yen Surges on Fears of Coordinated US-Japan Intervention

The Japanese Yen (JPY) experienced a strong comeback on Friday as fears of coordinated intervention by the US and Japan to support the currency grew.

The British Pound (GBP) recouped some losses against the JPY during the European trading session, but remained down around 0.17% near 209.45.

Japanese Finance Minister Satsuki Katayama stated that US President Donald Trump expressed concern over the Yen's weakness during a meeting with Japanese Prime Minister Sanae Takaichi in New York on Tuesday.