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Sunday, 30 October 2011

Japan intervenes to tame high-flying yen ahead of G20


(Reuters) - Japan intervened to weaken the yen after the currency hit a record high against the dollar on Monday, saying it acted to counter speculative moves that did not reflect the health of the Japanese economy.

The dollar spiked after the intervention as much as 4 percent past 79 yen from around 75.65 yen. The dollar touched a record low of 75.31 yen earlier on Monday.  More Read

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