Japanese officials confirm that on Wednesday the Bank of Japan sold yen and bought dollars, after the yen strengthened to 123.52 on the dollar. That is the yen's highest level since early December. The currency has gained almost 7 percent
JAPAN - The yen drifted higher in Asian trading Thursday, one day after the Bank of Japan intervened in the currency markets to stem the yen's surge. The central bank warns that it may step into the markets again to keep the yen from gaining too much ground.