Japan finally intervened in foreign exchange markets for the first time since 2004 to stop the relentlessly rising yen, pushing it sharply lower. As a result, Japanese stocks surged over 2%, led by exporters.
Following Tuesday’s win of Prime Minister Naoto Kan in a party vote, the yen set a fresh 15-year high. But a persistently rising yen — it jumped more than 11% against the dollar so far this…
Continue reading Japan Intervenes to Push Yen Lower; Nikkei Rallies
Japan Intervenes to Push Yen Lower; Nikkei Rallies originally appeared on DailyFinance on Wed, 15 Sep 2010 06:15:00.
Filed Under: Honda Motor Co, Sony, Toyota, Currency, Stocks in the News