Japan Tames Yen

Full Story: Yahoo News October 31, 2011

Japan Monday stepped forward to weaken its currency Yen, after the currency hit a record high against the dollar . The step is intended to counter speculative moves that did not reflect the health of the Japanese economy.

The dollar spiked after the intervention as much as 4 percent past 79 yen from around 75.65 yen. The dollar touched a record low of 75.31 yen earlier on Monday.

Posted in: Market, Money