The yen tumbled as much as 3% in today’s trading as the Bank of Japan intervened in the currency markets by buying dollars and selling yen in an attempt to halt the surge in the value of the yen. Relieved investors plowed money into exporters, sending the Nikkei up 2.3%. Hong Kong’s Hang Seng inched up 0.1% and in China, the Shanghai Composite sank 1.3%.
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Yen Falls and Stocks Soar as Bank of Japan Intervenes in Currency Market originally appeared on DailyFinance on Wed, 15 Sep 2010 07:00:00.