Japanese government intervenes to weaken Yen 3% price spike

Thursday, 04/08/2011 | 14:50 GMT by Adil Siddiqui
Japanese government intervenes to weaken Yen 3% price spike

The Greenback trading against the Yen saw a 3% spike today on the back of the central banks decision to sell Yen and buy government bonds to weaken the yen.

Japans central bank has been toiling with the currency and has made its 3rd intervention since September 2010.

The dollar rose as high as 80.23 yen, its highest point in nearly a month, before edging back to 79.09 yen. The dollar was worth 76.95 yen late Wednesday.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report.

The Greenback trading against the Yen saw a 3% spike today on the back of the central banks decision to sell Yen and buy government bonds to weaken the yen.

Japans central bank has been toiling with the currency and has made its 3rd intervention since September 2010.

The dollar rose as high as 80.23 yen, its highest point in nearly a month, before edging back to 79.09 yen. The dollar was worth 76.95 yen late Wednesday.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report.

Topics
forex
traders
dollar
fx
yen
About the Author: Adil Siddiqui
Adil Siddiqui
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