London, Nov. 19 (Jiji Press)–The yen slipped past 156 against the dollar to hit 10-month lows in London foreign exchange trading Wednesday. Yen selling increased after Japanese Finance Minister Satsuki Katayama told reporters following a meeting with Bank of Japan Governor Kazuo Ueda and others the same day that there were no specific discussions on the currency market at the gathering. At 11 a.m., the dollar stood at 156.19-29 yen, up 0.97 yen from 4 p.m. Tuesday. The yen is currently vulnerable to selling amid concerns about a further deterioration in Japan’s fiscal conditions due to Prime Minister Sanae Takaichi’s aggressive spending policy. Katayama’s remark to reporters gave currency market players a sense of security in selling yen, an official at a Japanese bank said. END [Copyright The Jiji Press, Ltd.]
Yen Falls past 156 against Dollar to Hit 10-Month Lows in London
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