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Yen renews decline as signs of further Japan intervention fade

The yen weakened Monday despite signs that Japan has ramped up its defense of the currency with a second likely intervention in as many sessions.

The currency whipsawed early in the day, surging to as much as ¥145.56 per dollar before weakening once more to around the ¥149 level. On Friday, it soared the most against the greenback since March 2020 amid reports officials intervened again to prop up the currency.

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