Yen rises sharply to 155 level vs. U.S. dollar on intervention speculation

The yen rose sharply Friday afternoon against the U.S. dollar briefly reaching the mid-155 level from the lower 157 range, amid a cautious mood following an overnight surge of about 5 yen on possible intervention, during the Golden Week holiday when markets are prone to sharp moves.The yen briefly climbed to 155.50 shortly before 4 p.m. after trading in the lower 157 range earlier in the afternoon. The yen later weakened to the mid-156 level.At 5 p.m., the dollar fetched 156.61-63 yen compared with 156.58-68 yen in New York and 160.13-15 yen in Tokyo at 5 p.m. Thursday.The euro was quoted a…READ FULL ARTICLE