Japan Follows Switzerland in Seeking to Stem Currency Gains

Japan Follows Switzerland in Seeking to Stem Currency Gains

Tomohiro Ohsumi/Bloomberg

The Bank of Japan followed up with monetary stimulus that totaled double the amount pledged days after the March 11 earthquake. The yen slid 3 percent to 79.34 per dollar at 2:23 p.m. in Tokyo, still above its two-month average.