Japan on Monday intervened in currency markets for the first time since August to weaken the yen, the government said, after the unit hit a fresh post-war high against the greenback.
Finance Minister Jun Azumi told reporters that Japan's move was unilateral but did not comment on the size of the intervention.
The dollar climbed to 78.95 yen at around 0155 GMT after hitting a fresh post-war low of 75.32 yen in Oceanian trade earlier Monday. The euro rose to 111.14 yen from 107.06 yen struck earlier Monday.
The yen has recently hit fresh post-war highs as investors seek the safe-haven currency to escape market volatility over the eurozone debt woes and a slowdown in the global economy.
Concerns are growing in Japan that the strong currency, which erodes the repatriated profits of exporters and makes exports less competitive, could undermine a fragile recovery from the March 11 earthquake and tsunami.
