The yen slid on Thursday after Japan intervened to curb its strength to support the country's export-led economy, a move that should have a fleeting impact as global economic concerns keep demand for the safe-haven currency high.
Japan's move had pushed the US currency roughly 4 percent higher to a three-week high of 80.25 yen, according to electronic trading platform EBS. Gains were later sharply pared and it last traded at 78.98 yen, up 2.5 percent.
On Monday, the dollar hit a four-month low of 76.29 yen, close to its record trough of 76.25 yen hit in March after the earthquake. Euro gains were also curbed and last traded at 111.74 yen, up 1.3 percent. Yen selling had earlier sent the eurozone single currency more than 3 percent higher against the yen.
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