Dollar Slips Further Against Yen
The dollar plunged to a postwar low against the Japanese yen for the second straight day in Tokyo today, then gave a mixed performance in quiet European trading.
European currency dealers said the dollar traded within a narrow range as falling oil prices and a related decline in U.S. interest rates were offset by fears that central banks might intervene to prevent the dollar from falling further. In Tokyo, the dollar closed at 174.90 yen, down from Monday’s 175.45 yen, the previous record closing low since World War II.
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