Yen Intervention Jumped Sharply Post Comments minister

Yen Intervention Jumped Sharply Post Comments minister

The U.S. dollar surged against the yen on Monday morning, was around 78.50 yen compared with 75.77 yen in late trading Friday. The euro also rose against the yen, was disekitat 110.30 yen, compared with 107.24 yen on Friday.

The dollar reached a new record low against the yen on Monday morning, and Japanese Finance Minister in June Azumi said that Japan will take firm steps to stem the rise of its currency if needed, but did not provide specific details, according to news reports.

Japanese stocks turned positive after the fall of the yen, with Japan's Nikkei traded up 0.9% after moving in negative territory earlier in the morning.