Did Japan raise yen intervention line to 157? Sharp volatility draws speculation

Some market players think authorities have stepped in repeatedly since last week

An exchange rate of 160 yen to the dollar was previously seen as the level at which Japanese authorities would intervene. (Photo by Akira Kodaka)

TOKYO -- The yen's exchange rate against the dollar has continued to fluctuate even after Japanese authorities intervened in the market by buying the currency, raising speculation that additional interventions may have taken place and that the threshold for stepping in has been raised from 160 yen to the 157 range.