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Market wary of possible BOJ, Japan govt action on yen

25 August 2010

The yen pulled back from 15-year highs on the dollar and a nine-year peak on the euro on Wednesday due to chances that Japanese authorities may take steps such as yen-selling intervention to stem the yen's rise.

The caution initially stemmed from a Nikkei business daily report saying Japan's Ministry of Finance may consider unilateral yen-selling market intervention if speculators drive up the currency. Read more
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