Yen surges to lower 157 versus dollar, Japan authorities step in

The Japanese yen briefly surged to the lower 157 level against the U.S. dollar in New York on Friday, with Japanese government sources confirming a yen-buying, dollar-selling intervention by currency authorities.Trading at 157.24 per dollar for a brief span, the yen hit its strongest level since mid-May.Reuters reported a photo taken during a meeting of President Donald Trump's Cabinet showed a to-do list in front of U.S. Treasury Secretary Scott Bessent indicating U.S. purchases of $5 billion to $10 billion worth of Japanese yen.The photo, taken over Bessent's shoulder by a Reuters photogr…READ FULL ARTICLE