dollar soars after japan\s intervention
Last Updated : GMT 11:05:00
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Dollar soars after Japan\'s intervention

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Arab Today, arab today Dollar soars after Japan\'s intervention

New York - Xinhua

The dollar soared on Monday after Japan\'s latest intervention. The Bank of Japan sold yen and bought dollars during Tokyo trading Monday to stop the yen from rising. The yen has risen 7 percent against the dollar since the beginning of this year, hitting a post-World War II high, which hurt Japan\'s important industry of export and triggered the new round of intervention. The dollar jumped to the three-month high of 78.05 Japanese yen late Monday from 75.75 yen late Friday. And lingering European debt worries kept pressuring the euro as the newly-reached debt deal lacked details and Italy\'s yield of 10- year bond rose above 6 percent. The euro fell to 1.3924 dollars from 1.4153 and the dollar rose to 0.8736 Swiss franc from 0.8621 Swiss franc and to 0.9941 Canadian dollars from 0.9934. But the British pound rose to 1.6129 dollars from 1.6119.  

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