Economics
Yen Reaches Record Versus Dollar as Traders See No Intervention
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The yen rose to a post-World War II record against the dollar as traders speculated Japanese officials are wary of selling the local currency.
The yen surpassed the previous high set last week, prompting Japanese Finance Minister Jun Azumi to say he’s ready to take “determined” steps in the currency market. The dollar dropped versus all of its 16 major peers this month amid speculation the Federal Reserve may add to stimulus measures. The euro weakened before figures that may show the region’s inflation slowed in October, spurring prospects of an interest-rate cut by the European Central Bank this week.