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Japan to vow coordination with US on weak yen in historic battle
['Makiko Yamazaki', 'Leika Kihara', 'August', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Her expected remarks to reporters follow what market sources say were rounds of yen purchases by the Japanese and U.S.
Japan may have sold as much as $58.97 billion to buy yen when it intervened in New York markets on Thursday, Bank of Japan data indicated, followed by another suspected foray into the market on Friday.
In a sign of broader policy coordination, South Korea stepped in to buy its won currency on Thursday.
The dollar ended Friday trading around 157.60 yen, having retreated from near 164 yen, the highest since 1986, which it hit earlier in the week.
Japan intervened in April and May, buying yen, causing only a brief rebound.