Yen Vs Dollar: Japan to act against firming currency
The dollar touched 75.78 yen in New York on Friday, breaking its record low of 75.95 yen.
TOKYO:
Japan’s finance minister vowed on Saturday to take “decisive action” against speculative moves in currency markets after the yen hit a record high against the dollar, Kyodo news agency reported. The dollar touched 75.78 yen in New York on Friday, breaking its record low of 75.95 yen on August 19 as yen buying accelerated on risk aversion amid concern over the eurozone sovereign debt crisis. “We will take decisive action against excessive, speculative moves in the market,” Finance Minister Jun Azumi told reporters, according to Kyodo.
Published in The Express Tribune, October 23rd, 2011.
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