Yen Soars After Japan's Record-Breaking Intervention

The yen made a significant jump against the dollar on July 30 after reports of official yen buying in New York, coordinated with intervention by South Korea.

This move lifted the yen from near four-decade lows and gave it its biggest one-day boost on the dollar in almost two years.

Japan's finance ministry has a history of intervening in currency markets to support the yen. In April and May, they spent 11.7 trillion yen ($72.52 billion) in foreign-exchange intervention, a record monthly amount.