Dollar rebounds to 160 yen after sudden 5-yen drop amid intervention speculation

The U.S. dollar rebounded to the lower 160 yen range in Tokyo early Friday, after a sudden drop of nearly 5 yen to below the 158 yen line overnight in New York amid speculation of intervention by Japanese authorities.At 9 a.m., the dollar fetched 160.18-19 yen compared with 159.42-52 yen in New York, after briefly marking 157.97, and 163.73-74 yen in Tokyo at 5 p.m. Thursday.The euro was quoted at $1.1523-1524 and 184.58-60 yen against $1.1523-1533 and 183.69-79 yen in New York and $1.1436-1438 and 187.25-29 yen in Tokyo late Thursday afternoon.On Friday morning, the Nikkei stock index surg…READ FULL ARTICLE