Yen Nears Intervention Level

The euro jumped against the dollar to its highest since February on Tuesday as concerns about further U.S. quantitative easing overshadowed an unexpected interest rate cut from the Bank of Japan.

In volatile trading the yen fell close to the level that triggered the Bank of Japan's September 15 intervention.

Earlier in the global trading day, the yen temporarily fell after the BOJ surprised markets by cutting its key overnight rate target to 0-0.1 percent from 0.1 percent and said it would create a pool of funds to buy assets in the face of evidence that a stronger yen was hurting Japan's economy.