Dollar Sinks To New Low Against Yen

The U.S. dollar hit a new low against the Japanese yen today.

According to Reuters:

NEW YORK, Oct 21 (Reuters) - The U.S. dollar slumped to a record low against the yen on Friday in its biggest one-day decline in nearly two months, bringing back into focus the threat of official intervention to weaken the Japanese currency.

Traders reported initial large selling of dollars from a U.K. clearer and macro funds, and losses accelerated after the pair broke through a series of stops around 76.30 and 75.90.

The dollar fell as low as 75.78 yen on trading platform EBS , surpassing its previous record low of 75.941 set in August.

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