News Update: Yen Falls From 15-Year High
The yen fell from its 15-year high, as the Japanese government intervened in the country's currency market for the first time in six years, reports BusinessWeek.com Wednesday. The yen dropped up to 3% to 85.52 per dollar and the Nikkei 225 Stock Average rallied 2.3%. Tokyo-based Sumitomo Trust & Banking Co. strategist, Ayako Sera, told BusinessWeek, "If the yen continues its reversal, it will put one of the biggest concerns for Japan behind us and we should see increased buying of exporters,"
