Yen surges sharply as market speculates Japan shifts to "surprise attacks" strategy

```htmlGolden Ten Data reported on July 2 that on Thursday, the yen-to-dollar exchange rate suddenly surged, and traders remained highly alert to possible intervention by Japanese authorities to support the yen. It is currently unclear what triggered this market fluctuation, or whether Japanese authorities intervened in the market. The magnitude of this fluctuation appears to be smaller than previous movements following rounds of intervention. Mitsui Sumitomo Bank Chief Foreign Exchange Strategist Hirofumi Suzuki said: "It is not clear at this point whether this is intervention. But as reported, the authorities may have changed their intervention strategies and tactics, possibly no longer issuing advance signals of intervention, which could make it more difficult for the yen to weaken further."```