Japan and US confirm coordinated yen-buying intervention, yen surges

The U.S. dollar weakened sharply against the Japanese yen after U.S. President Donald Trump and Japan's finance minister confirmed both sides had intervened in markets. The yen surged more than 1% against the dollar to an intraday high of 155.20, its strongest since early May, following coordinated yen-buying intervention by Tokyo and Washington last week.