FOREX-Yen falls to fresh 11-month low against dollar, focus on intervention risks

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Jun 17, 2007
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The dollar rose against the yen to an almost 11-month high on Monday following last week's gains, keeping traders focused on Japan intervention risks. The yen fell 0.17% to 148.66 per dollar, touching its lowest since late October and adding to Friday's declines after the BOJ maintained ultra-low interest rates, while Governor Kazuo Ueda stressed the need to spend more time assessing data before raising interest rates. The Japanese currency remained within striking distance of 150, a level which some market watchers saw as a line in the sand that would spur forex intervention from Japanese authorities similar to that of last year.
 
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