Yen sharply rebounds vs dollar amid suspected intervention

The yen rallied sharply after dropping to a new 34-year low in the 160 level against the U.S. dollar in Asian trading on Monday amid speculation of intervention by Japan, although its top currency diplomat would not confirm whether the government had stepped in.The dollar topped the 160 yen line for the first time since April 1990, rising from the 158 yen level in thin trading with financial markets in Tokyo closed for a national holiday.But the U.S. currency quickly fell back, dropping to as low as the 154 yen level as some dealers suspected Japanese authorities may have stepped into the c…READ FULL ARTICLE