Japan minister concerned about yen's rapid rise
Tokyo
JAPAN'S Finance Minister Taro Aso on Tuesday warned over the yen's rapid rise after the US dollar plunged to a seven-month low against the unit on fears over China's economy and global growth.
In Tokyo the greenback fetched 119.60 yen following the comments compared to 118.51 yen in New York where it fell at one stage to 116.18 yen, its lowest level since February. The US dollar was above 124 yen last week. The euro was stronger at 137.95 yen from 137.55 yen in US trading, while it slipped to US$1.1538 against US$1.1606.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher