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Yen Jumps in Thin Asia Trade as Intervention Fears Keep Investors on Alert

Tokyo, 4 May 2026 – The Japanese yen briefly surged in Asian trading on Monday, putting currency investors on high alert as speculation grew that authorities may again step into the market to slow the currency’s sharp decline.

The yen strengthened as much as 0.8 percent to 155.72 against the US dollar during a thin holiday session before giving back most of those gains. The sharp move came after Japan was believed to have spent around ¥5.4 trillion, or about US$34.5 billion, last week to support the currency after it weakened past 160 per dollar.

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Author

  • Kenji Yamamoto is a Senior Fellow at The Ledger Asia, where he explores the critical nexus of Asian international relations, economic development, and environmental sustainability. With extensive experience in cross-border policy analysis, Kenji provides a unique perspective on how diplomatic alliances and green energy transitions drive long-term growth across the Asia-Pacific.

    Previously an advisor for regional development banks, he specializes in sustainable infrastructure and the circular economy’s role in modernizing emerging markets. At The Ledger Asia, Kenji’s deep-dive reports help readers navigate the complex balance between rapid industrialization and the global imperative for climate resilience and corporate responsibility.

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