Japan intervenes for 1st time in six years to cap yen
TOKYO (Reuters) - Japan stepped into the currency market on Wednesday for the first time in six years, selling yen to stem a rise that is threatening a fragile economic recovery. The dollar extended its gains after intermittent yen selling and was up 2 percent on the day and nearly two yen above a 15-year low. But it was unclear whether Prime Minister Naoto Kan's government had the stomach for a prolonged campaign similar to Japan's last foray into foreign exchange markets in 2003-2004.
source: iii.co.uk
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