Yen Breaches Japan Intervention Level; U.S. Job Loss Fuels Gain
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The yen climbed versus the dollar for a second day, erasing all the loss incurred since the Bank of Japan moved to weaken its currency last month and spurring speculation that another intervention may follow.
The yen reached 82.77 per dollar today, the strongest since May 1995. It had previously reached a 15-year peak of 82.88 on Sept. 15, before the central bank intervened for the first time since 2004 to help the nation’s exporters.