Yen rises sharply to 155 level vs. U.S. dollar on intervention speculation

TOKYO - The yen rose sharply Friday afternoon against the U.S. dollar briefly reaching the mid-155 level from the lower 157 range, amid a cautious mood following an overnight surge of about 5 yen on possible intervention, during the Golden Week holiday when markets are prone to sharp moves.

The yen briefly climbed to 155.50 shortly before 4 p.m. after trading in the lower 157 range earlier in the afternoon. The yen later weakened to the mid-156 level.