The market is still alert on risks of foreign-exchange intervention by Japanese authorities to prop up the yen, MUFG Bank's Michael Wan says in a research report. On Thursday, "yen strengthened from 162.83 [per dollar] to as much as 160.64, before trading at 161.28 at the time of writing," the senior currency analyst notes. This was driven by weaker-than-expected U.S. nonfarm payrolls data, together with suspected intervention by Japanese authorities, Wan writes. "With the key U.S. holidays upcoming and as such a period of low liquidity, coupled with U.S. data and nonfarm payrolls supportive of a weaker dollar in the near term, we would be quite wary of intervention risks in the near term." The dollar is 0.1% higher at 161.21 yen, LSEG data shows. (ronnie.harui@wsj.com)