Yen Surges Amid Weak US Jobs Data, Traders Eye Intervention

The Japanese yen surged against the dollar after a surprisingly weak US employment report. The yen jumped by as much as 1.1% to 156.68 and was last trading at 157.1, significantly lower than its 40-year high of 163.99 hit in July.

The sudden market move has traders on alert for potential intervention from Japanese authorities, who jointly stepped into the foreign exchange markets with the US just a few days ago to lift the weak currency.

On Monday, Japan's finance ministry confirmed that it would not hesitate to take further action, reiterating its commitment to halting the yen's slide.