Business

The yen rebounded sharply, fuelling speculation that the authorities had intervened to prop up the currency for the first time since 2022. The currency had hit a 34-year low of 160 to the dollar, after the Bank of Japan left its benchmark interest rate on hold at between zero and 0.1%, having raised it from minus 0.1% in March. The central bank gave little clue as to when it would raise rates again, and also did not produce a plan to sharply curtail its bond-buying.