Yen Jumps on Katayama Intervention Hopes After Trump Talks

The yen has seen its biggest daily gain in over two weeks after Finance Minister Satsuki Katayama's comments on the currency sparked hopes of intervention. The Japanese currency strengthened by as much as 0.6% to 157.95 per dollar on Friday, outperforming all of its Group-of-10 peers.

Katayama's statement that US President Donald Trump shared concerns over the yen during a meeting with Prime Minister Sanae Takaichi in New York earlier this week has provided some relief after renewed dollar strength pushed it toward the key 160-per-dollar level.