31 Oct '11, 12am

Yen hits new post-war high of 75.32 against the US dollar

Yen hits new post-war high of 75.32 against the US dollar

The yen hit a new post-war high of 75.32 to the dollar in Oceanian trade early on Monday despite repeated warnings from Japanese authorities against pushing the yen up. -- PHOTO: AP TOKYO (AFP) - The yen hit a new post-war high of 75.32 to the dollar in Oceanian trade early on Monday despite repeated warnings from Japanese authorities against pushing the yen up. The dollar fetched 75.32 yen, the lowest rate since World War II, falling below the previous lows of around 75.60 yen touched last week, Jiji Press and Kyodo news agencies said. The greenback firmed slightly after hitting the new low, trading at 75.75 yen at 8.25am in Tokyo (7.25am Singapore time). The yen has been rising to post-war highs as investors seek the safe-haven currency to escape market volatility over the euro zone debt woes and a slowdown in the global economy. Concerns are growing in Japan that the st...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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