The yen’s sudden surge Tuesday was likely the result of traders increasingly sensitive to the risk of currency intervention by Japanese policymakers and not any official action in foreign-exchange markets, according to Nomura Plc. Dollar-yen witnessed a brief reversal in New York morning trading, falling from 154.76 to a session low of 154.04 within a matter of minutes, before giving back most of that drop. With the pair at a 34-year high and the uptrend in dollar-yen intact, traders are mindful of any sharp moves that could be Japan’s Ministry of Finance intervening — something that last happened in September and ... (full story)