JAPAN: Dollar falls to near 15-year lows against yen

Record ID: 463514

  • Title: JAPAN: Dollar falls to near 15-year lows against yen
  • Date: 9th October 2010
  • Summary: TOKYO, JAPAN (OCTOBER 8, 2010) (REUTERS) TRADERS WORKING AT UEDA HARLOW FOREIGN EXCHANGE TRADING OFFICE ELECTRONIC BOARD SHOWING DOLLAR TRADING AT 82.30 YEN AND RISING TO 82.31 TRADER WORKING BEHIND JAPANESE AND AMERICAN FLAGS MORE OF TRADERS WORKING TRADER TALKING INTO MICROPHONE MORE OF TRADERS TALKING IN MICROPHONES BOARD SHOWING DOLLAR TRADING AT 82.30 AND RISING TO 82.34 WITH EURO TRADING AT 114.84 AND RISING TO 114.85 MORE OF TRADERS WORKING
  • Embargoed: 24th October 2010 13:00
  • Keywords:
  • Location: Japan
  • Country: Japan
  • Topics: Finance
  • Reuters ID: LVA2L3E2MVH27DN63JHUIDNDJF01
  • Story Text: Dollar falls to near 15-year lows against yen amid concerns of further Federal Reserve quantitative easing.
    The Yen rose to a near 15-year high against the dollar on Friday (October 8), amid concerns over whether the Federal Reserve will resume quantitative easing and the possibility of a currency intervention by Japanese authorities.
    The Yen stood at 82.36 against the dollar, not too far away from a 15-year high of 82.11 yen reached the previous day.
    Caution over possible Japanese intervention increased after the yen rose beyond 82.87 -- the level where Tokyo intervened for the first time in six years on Sept. 15 to stem its gains.
    Japanese finance minister Yoshihiko Noda reaffirmed on Friday morning that there was no change in Japan's position to take firm measures against currencies when needed.
    Noda also said that the intervention Japan conducted last month was intended to stop excessive moves and was not a signal that Japan is prepared to conduct large-scale intervention to guide the yen to a specific level.
    Tensions have grown over competitive currency devaluation, which is set to be a focal point during the Group of Seven and International Monetary Fund meetings starting later Friday.
  • Copyright Holder: REUTERS
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