The rush to devalue one's currency continues. Do you got the phyzz?
The yen weakened for the third time
in four days against the dollar and fell against the euro as
government data showed Japan carried out so-called stealth
intervention to weaken the currency in November.
“The yen has weakened modestly, reflecting the increasing
risks that the Japanese authorities may intervene again to damp
yen strength,” said Lee Hardman, a currency strategist in
London at Bank of Tokyo-Mitsubishi UFJ Ltd. “The latest report
confirmed as widely expected that the Japanese authorities
carried on undertaking stealth intervention to weaken the yen in
early November.”
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