Dollar at lower 149 yen after suspected Japan yen-buying intervention

The U.S. dollar weakened to lower 149 yen level early Wednesday in Tokyo following a suspected yen-buying intervention by Japanese monetary authorities after the currency topped the 150 yen line the previous day.

After climbing above the threshold, the dollar plunged to as low as 147.30 yen in New York overnight, stirring speculation among market participants that the Japanese government stepped into the market to stem the currency’s depreciation.

At 9 a.m., the dollar fetched 149.18-19 yen compared with 149.04-14 yen in New York and 149.77-79 in Tokyo at 5 p.m. Tuesday.

The euro was quoted at...