The yen rose as high as 144.5 per dollar on Friday, before paring gains to trade up about 1.4% at 148.195, its biggest daily jump since August 10.“We are seeing lots of dollar selling and the yen moving almost vertically as shorts get squeezed,” he said.
Earlier on Friday, Japanese finance minister Shunichi Suzuki said authorities were dealing with currency speculators “strictly”, while Bank of Japan governor Haruhiko Kuroda said the central bank would closely watch the impact of currency moves. The dollar index , which measures the greenback’s strength against a basket of currencies, was 0.7% lower at 112.17, down from a three-week high of 113.95, hit during the session.
The Wall Street Journal reported that Fed officials are barrelling toward another interest-rate rise of 0.75 percentage point at their November meeting, while some policymakers have begun signalling their desire to slow down the pace of increases soon.