They were the laugh of the financial community, now they have honor. Thanks!
Japan intervened to stem yen's climb: finance minister
Japan intervened unilaterally in the currency market to weaken the yen after it scaled another record high against the dollar on Monday, Finance Minister Jun Azumi said. Tokyo's foray into the market -- it's second in less than three months -- follows repeated warnings by policymakers that they were ready to act to prevent the yen's strength from hurting the world's third largest economy. The dollar spiked more than 3 percent to as high as 78.55 against the yen from around 75.65 yen and a record low of 75.31 yen touched earlier on Monday. Azumi told a news conference the solo intervention started at 10:25 local time ... (full story)