The Japanese yen soared after reaching its weakest level of the day.

The Japanese yen surged significantly against the US dollar after hitting its weakest level of the day, continuing its volatile trend of the past few trading days. Traders remained nervous after Japan's possible intervention on Thursday. Data from the Bank of Japan on Friday night showed that Japanese financial authorities may have intervened on a large scale in the foreign exchange market to support the yen on Thursday. During the Tokyo trading session on Monday, the yen against the dollar weakened earlier to 157.24 yen before soaring to around 155.87 yen. The latest exchange rate for the US dollar against the yen is 156.74 yen.