Yen Surges to Two-Month High After Fresh Verbal Intervention

The yen extended its advance, jumping more than 2% after Japanese officials stepped up verbal support for the currency.

Japan’s top currency official Atsushi Mimura echoed comments from Minister of Finance Satsuki Katayama’s warning that “the timing for taking bold steps is nearing.” The warnings helped push the yen up to 156.67, its strongest level since March 5. If the move holds, it will be the biggest increase since August.