The yen extended gains to as much as 1.5% against the dollar as traders are on heightened alert for authorities intervening in the market following its recent slide.
The currency advanced as far as 153.40 per dollar, the strongest since mid-November, after a warning from Prime Minister Sanae Takaichi that the government will be ready to take action. That came on the back of signs Friday that the US may join Japan to defend the yen. Japanese stocks fell, with the Nikkei 225 Stock Average closing 1.8% lower, and most bonds gained.
