Value of Japanese yen jumps against dollar, investors suspect intervention

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows. The dollar fell sharply to 156.55 yen from as high as 160.245 earlier in the day. Trade sources said Japanese banks were seen selling dollars for yen.

Traders had been on edge for any signs of action from Tokyo to prop up a currency that has fallen 11% against the dollar so far this year, as even a historic...