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Dollar jumps vs yen on rumours of intervention

Published 09/24/2010, 12:34 AM
Updated 09/24/2010, 12:36 AM

TOKYO, Sept 24 (Reuters) - The dollar jumped sharply against the yen on Friday, driven higher by talk that Japanese authorities were intervening to buy dollars for yen in their second intervention this month, traders said.

The dollar rose to 85.40 yen from about 84.55 yen in a matter of minutes.

Japanese authorities intervened to sell yen for the first time since 2004 on Sept. 15, intervening repeatedly through the Asian, European and U.S. trading day and spending an estimated 2 trillion yen ($23 billion) to drive the dollar up from a 15-year low. (Reporting by Tokyo Markets Team)

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