Dollar sinks to fresh 14-year low vs yen
The dollar sank to a fresh 14-year low against the yen Friday as worries about Dubai's debt mountain drove investors to buy safe haven assets like the yen. Japanese Finance Minister Hirohisa Fujii called the yen's surge "a very serious situation." He said Tokyo will take appropriate measures as needed, suggesting that Japan may cooperate with the U.S. and Europe to calm foreign exchange markets. "I am monitoring the situation very carefully," Fujii said. The Japanese currency briefly touched 84.81 yen — the lowest since mid-1995 — in early trading before bouncing back to 86.33 yen. The euro, meanwhile, weakened...
Original Article: Forum: News/Activism
Tags: Assets, Briefly, Euro, Europe, Finance Minister, Foreign Exchange Markets, Fujii, Investors, Japan, Japanese Currency, Japanese Finance, Measures, Safe Haven, Serious Situation, Sinks, Tokyo, Worries, X27, Yen Dollar