URGENT: Yen surges to 147 range vs. U.S. dollar from 151 in N.Y. morning

The Japanese yen surged to the 147 range against the U.S. dollar on Friday after hovering in the upper 151 zone in the morning in New York.

The yen was traded at 151.75-85 to the dollar at 8:30 a.m. but suddenly advanced to the 147 zone later, with the move fueling speculation that Japanese authorities have conducted another yen-buying, dollar-selling market intervention.

The yen fell to a fresh 32-year low of 150.48 in Tokyo on Friday and then reached the upper 151 level in London.

© Kyodo News