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The yen was headed for its biggest weekly gain in 16 months on Friday, helped by Japan's suspected intervention this week to pull the currency away from 34-year lows, while the dollar index fell to a three-week low ahead of U.S. jobs data. Traders were left on tenterhooks for any further huge swings in the yen after Tokyo was suspected to have intervened to support its currency this week, on Monday and on Wednesday, to the tune of some 9.16 trillion yen ($59.8 billion), as suggested by data from Bank of Japan. "The second round of intervention in one week, deployed after a less hawkish than expected FOMC (U.S. Federal Open Market Committee) on Wednesday, has sent markets the message that the Ministry of Finance is less tolerant of a post-intervention depreciation of the yen this time," said Francesco Pesole, currency strategist at ING, recalling the yen fall after Japan's FX intervention in September 2022.