Yen surges after Japan intervenes with first support since 1998

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Reuters UK

By Alun John, Gertrude Chavez-Dreyfuss and Harry Robertson LONDON/NEW YORK (Reuters) – The Japanese yen jumped across the board on Thursday after monetary authorities intervened in the foreign exchange market to boost the battered currency for the first time since 1998, although analysts said Japan may struggle to keep the yen strong for long. The dollar was last down 1.5% at 141.91 yen. It hit a low of 140.31 after the intervention, having earlier reached a fresh 24-year peak of 145.9 yen. The spread between the day’s high and low for the pair was the widest since June 2016. The euro, Austral…

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