Yen hits 2-month high in 153 zone vs. dollar, Tokyo stocks plunge

The yen hit a two-month high in the upper 153 range against the U.S. dollar in Tokyo on Monday amid wariness of possible yen-buying interventions by Japanese and U.S. authorities.Tokyo stocks plunged, with the key Nikkei index briefly losing over 2 percent, as export-oriented auto and electronics issues were hit by the yen's appreciation, which reduces exporters' profits when repatriated.The Japanese currency jumped by more than 5 yen against the dollar from the 159 level in Tokyo on Friday, with Japanese and U.S. authorities suspected of having conducted a "rate check" with major banks lat…READ FULL ARTICLE