JPY witnessed a substantial surge
against the dollar on Monday
this significant shift sets the stage for what
may be an active week for currency traders,
lith the Federal Reserve meeting concluding
on Wednesday, U.S. employment data due on
Friday, and European inflation figures being
released throughout the week, starting with
data from Germany and Spain on Monday.

During the trading sessions in Asia and again in
Europe, the dollar sharply dropped to 154.4 yen
from an intraday peak of 160.245, which was its
highest level since 1990. Despite speculation
about governmental intervention, Japan's chief
currency diplomat, Masato Kanda, refrained
from confirming such actions, although traders
reported signs of intervention.