Japan conducted intervention to stem yen's fall against dollar: sources

Japanese authorities intervened in the currency market on Thursday to stem the yen's rapid fall to the upper 160 range against the U.S. dollar, government sources said, stepping into the market for the first time in one year and 10 months.A market estimate based on Bank of Japan data released Friday shows some 5 trillion yen ($32 billion) was likely spent for the intervention on Thursday.The government is believed to have judged speculative moves are increasing in the foreign exchange market amid the Middle East crisis. The Japanese currency surged nearly 5 yen to the 155 zone against the d…READ FULL ARTICLE