Yen Drops on Concern Japan May Weaken Currency; Pound Jumps
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The yen slid from near its strongest level in 15 years against the dollar amid concern Japanese authorities may renew action to weaken the currency.
The yen also depreciated against the euro as Japan’s Chief Cabinet Secretary Yoshito Sengoku said he met today with a senior finance ministry official to discuss the global economy and foreign exchange markets. The pound surged against the dollar and the euro after Standard & Poor’s raised its outlook on U.K. debt and gross domestic product rose twice as much as economists estimated. The Swedish krona weakened.