Yen clings to sharp gains after suspected intervention, Fed in focus [from Reuters]

Yen clings to sharp gains after suspected intervention, Fed in focus [from Reuters]

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The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities.

The Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday when traders say yen-buying intervention by Tokyo drove a sizeable rebound of nearly six yen.

Read more: Yen clings to sharp gains after suspected intervention, Fed in focus