BLBG:Yen Strengthens, Erasing Declines, Following Noda Announcement on Currency
The yen strengthened, erasing earlier declines against the U.S. dollar, after Japanese Finance Minister Yoshihiko Noda announced a $100 billion effort to curb gains in the national currency.
The yen traded at 76.70 per dollar as of 11:38 a.m. in Tokyo, from 76.66 yesterday in New York, after earlier decling to as weak as 76.87. Japan’s currency advanced to 110.56 per euro from 110.70.
To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net
To contact the editor responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net
