With or without official word on intervention, weak yen may persist

The yen's sudden surge against the U.S. dollar, suspected by financial markets to be the result of fresh intervention by Japanese authorities, will likely keep currency traders jittery and ensure they have second thoughts about aggressively selling the Japanese currency, at least for now.While there was no official word from Japanese officials that the government did intervene after the yen slipped past a new 34-year-low in the 160 level on Monday, its quick return to the 154 zone reminded market players that Japanese authorities, who had previously only threatened to act, can indeed respon…READ FULL ARTICLE