The yen fell from historic highs Friday after the Group of Seven major industrialized nations promised coordinated intervention in currency markets to support catastrophe-stunned Japan's recovery.
Later in the day, the U.S. Federal Reserve Board and the central bank of Canada announced they intervened in the market in a bid to curb the yen's rise by selling the Japanese currency.
The G7 pledge came after the yen hit an all-time high against the dollar Thursday, possibly threatening Japan's exports and hampering its economic recovery from the March 11 quake that triggered an unfolding crisis at the Fukushima No. 1 nuclear power plant.