TOKYO - The U.S. dollar rebounded to the lower 160 yen range in Tokyo early Friday, after a sudden drop of nearly 5 yen to below the 158 yen line overnight in New York amid speculation of intervention by Japanese authorities.
At 9 a.m., the dollar fetched 160.18-19 yen compared with 159.42-52 yen in New York, after briefly marking 157.97, and 163.73-74 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.1523-1524 and 184.58-60 yen against $1.1523-1533 and 183.69-79 yen in New York and $1.1436-1438 and 187.25-29 yen in Tokyo late Thursday afternoon.
On Friday morning, the Nikkei stock index surged by over 5 percent, as concerns over the return on massive investments in artificial intelligence eased following a series of robust earnings releases from companies in both the US and Japan.
At 9:31 a.m., the 225-issue Nikkei Stock Average was up 3,249.81 points, or 5.25 percent, from Thursday to 65,117.24. The broader Topix index was up 73.75 points, or 1.87 percent, at 4,026.25.
On the top-tier Prime Market, the main gainers were nonferrous metal, glass and ceramics product, and electric appliance.
