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JPY Daily News
Yen Hits 15 Year Peak
Thursday, 14 Oct 2010
The Japanese yen rose to its highest price level in 15 years versus the US currency before reports this week may fuel speculation that the Federal Reserve will ease its monetary policy further in order to support prices.
The dollar/yen cross dropped to 81.28, the weakest since April 1995, and traded at 81.32 yen, from 81.81 yesterday. While traders think Japan could intervene in the forex market to keep the yen in check at any moment, some participants speculate that Tokyo may prefer to avoid intervention ahead of the G20 meetings this weekend.
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