21 Mar '11, 8am

The yen fell against the dollar after G-7 vowed to halt the currency's rise with a joint intervention

The yen fell against the dollar after G-7 vowed to halt the currency's rise with a joint intervention

In the afternoon trade, the dollar rose to 80.95 yen (S$1.27) from 80.59 yen in late US trade. -- PHOTO: REUTERS THE yen fell against the dollar in Asia trade on Monday after Japan and its fellow G-7 partners vowed last week to halt the currency's rise with a joint intervention, analysts said. In afternoon trade, the dollar rose to 80.95 yen (S$1.27) from 80.59 yen in late US trade on Friday. Markets in Japan are closed for a public holiday and will reopen Tuesday. The euro changed hands at US$1.4162 (1S$.80), down from $1.4176 late on Friday, while the euro was at 114.65 yen compared with 114.91. 'The focus this week will obviously remain on the consequences of the earthquake (in Japan) and the responses of the markets, particularly currencies,' said analysts from Capital Economics research. World Bank chief regional economist Vikram Nehru said the yen, which shot to post...

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