Japanese yen whipsawed on further suspected intervention

The Japanese yen was whipsawed in early Monday

The Japanese yen was whipsawed in early Monday trading on suspected intervention by Tokyo for the second straight day, but the efforts to slow the currency's relentless slide was blunted by a dollar riding a wave of yield-driven and safe-haven demand, Qazet.az reports.

The yen's sell-off has fed broader concerns for the world's third-largest economy, as it is driving already surging import bills for everything from fuel to food, and challenges the Bank of Japan's fierce commitment to ultra-low rates in the face of rapid global monetary tightening to combat rampant inflation.