U.S. understands Japan's recent forex intervention: official

The United States understands Japan's intervention in the foreign exchange market amid the yen's rapid decline against the U.S. dollar, a Treasury Department official said Thursday.But the official denied that the United States was involved in the dollar-selling, yen-buying intervention earlier Thursday, Tokyo's first such operation in 24 years."We understand Japan's action, which it states aims to reduce recent heightened volatility of the yen," a Treasury spokesperson said in an email.Japan conducted a large-scale yen-buying operation Thursday after the dollar rose above the 145 yen line …READ FULL ARTICLE