Dollar is trying to recovery from intraday low after market sentiments are weighed down mildly by more tightening from China. China raised the so called bank reserve requirement ratio by 50bps to “appropriately control” credit and loans. This was the second reserve increase in two weeks as inflation is viewed as a serious threat to… read more
Tag Archives: Currency
Japan intervenes in currency market to weaken yen (9/15/2010)
By TOMOKO A. HOSAKA Associated Press Writer TOKYO (AP) — Japan waded into the currency market Wednesday for the first time in six years, buying dollars to weaken the surging yen, which is battering famed Japanese manufacturers like Toyota and Sony after spiking to 15-year highs. Prime Minister Naoto Kan surviving a leadership challenge the… read more