Strong yen fuels talk of currency intervention
Tuesday, August 2, 2011
TOKYO (AP) — Expectations for currency intervention in Japan have grown after the yen crept toward record highs.
The dollar has been weakened by concerns about the U.S. economic outlook and fell as low as 76.29 yen Monday.
The greenback hit a record post-World War II low of 76.25 yen in the days following the March 11 earthquake and tsunami.
Although the dollar climbed back above the 77-yen level Tuesday, officials intensified their rhetoric and analysts predicted action as early as this week when the central bank policy board meets.