Yen Gains Fading as Authorities Weigh Another Intervention

The yen's intervention-driven gains have largely evaporated, leaving traders to wonder if authorities will intervene again.

After a joint operation from Japan and the US since 1998, the currency has pulled back to around 158.40 versus the dollar, down from its strong point of 155.23 reached on Monday.

Despite warnings from officials that they're determined to defend the yen if needed, traders are cautious ahead of Friday's payroll figures, which could impact the dollar-yen exchange rate.