NEW YORK -(Dow Jones)- A new $100 billion fund unveiled by Japan weakened the yen Wednesday, as traders mulled the longer-term implications of efforts to curb the currency's persistent strength.
In the wake of a downgrade by Moody's Investors Service of Japan's sovereign credit rating to Aa3, the government announced new measures to discourage further gains in the yen, which just last week surged to a record high against the dollar below Y76.
In addition strengthening oversight of foreign exchange markets, the finance ministry will establish a $100 billion facility to encourage companies to ...
NEW YORK -(Dow Jones)- A new $100 billion fund unveiled by Japan weakened the yen Wednesday, as traders mulled the longer-term implications of efforts to curb the currency's persistent strength.
In the wake of a downgrade by Moody's Investors Service of Japan's sovereign credit rating to Aa3, the government announced new measures to discourage further gains in the yen, which just last week surged to a record high against the dollar below Y76.
In addition strengthening oversight of foreign exchange markets, the finance ministry will establish a $100 billion facility to encourage companies to ...
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