Yen back on weakening trend after surging on Japanese intervention
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The yen was back on a weakening trend early Monday, trading in the 149 range versus the U.S. dollar, after surging late last week on intervention by the Japanese authorities aimed to lift the currency from a 32-year low. The level early Monday compares with 146.20 immediately after the yen-buying, dollar-selling intervention conducted during Friday's trading in New York in the wake of the yen's plunge to 151.94, a level unseen since July 1990. Although Japan's top currency diplomat Masato Kanda kept silent on whether Tokyo had made a fresh intervention like the one last month, sources close to...