Yen Bounces Amid Speculation of Japanese Intervention

The Japanese yen attempted to recover against a basket of major and secondary currencies in Asian trading on Friday, aiming for its first gain in six days. This rebound was supported by buying from lower levels, amid speculation that Japanese authorities could intervene to support the local currency.

Despite this recovery, the yen is still on track for a second consecutive weekly loss due to negative pressures related to interest rate differentials between Japan and the United States.

The yen's exchange rate against the US dollar rose 0.35% to ¥158.28 from its opening level of ¥158.84, with a high of ¥158.90 recorded earlier in the day.