The U.S. dollar strengthened against the Japanese yen on Wednesday after Japan unexpectedly moved to weaken the yen.
3 K: d" b8 O) d1 m! R' t! W The dollar rose 3 percent against yen in New York, the biggest one-day gain versus the yen since the financial crisis.
! ~. E6 l+ K* H) t9 b% Z, _3 Z The yen has hit a series of 15-year highs versus the dollar since August, as investors considered the currency as a safe haven.
9 V1 ]% V r: V; A The Bank of Japan sold yen and bought dollars directly in the marketplace after the dollar fell to 82.88 yen on Tuesday.
0 [/ r2 C, t d9 O* H6 d( s In late trading in New York, the dollar traded at 85.62 yen, up from 83.07 on Tuesday.. D; M X! b H
The euro dipped to 1.3006 dollars from 1.3019 dollars, while the British pound rose to 1.5620 dollars from 1.5569 dollars. |