Bank of Japan Intervenes – Yen Weakens 5%

Bank of Japan Intervenes – Yen Weakens 5%

  • Posted Monday, October 31, 2011 -
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The Japanese government has intervened in the currency market to weaken the yen after it hit a post-war high.

The move resulted in the yen weakening as much as 5%. It was recently trading at 79.33 against the US dollar compared with 75.31 in early Asian trade.

Source: BBC News

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