Japan conducted rate checks in the FX market, Nikkei reports

‌Japanese authorities conducted rate checks in the currency market, the ‌Nikkei newspaper reported, triggering ‌a sharp rise in the yen.

The report came ⁠after ​the ⁠currency's slide despite the ⁠Bank of Japan's decision on ​Friday to raise interest ⁠rates to a 31-year high ⁠of ​1.25%. Japan's Finance Ministry, which directs intervention, ⁠did not immediately respond to ⁠a ⁠request for comment.