Sunday, 22 July 2007

Yen Drops on Bets Japan's Ruling Coalition to Lose Upper House Elections

(Bloomberg) -- The yen dropped to a record low
against the euro after the Nikkei newspaper reported yesterday
Japan's coalition may lose its majority in upper house elections
on July 29, citing a poll it conducted.

The yen was at 168.12 per euro at 7:17 a.m. in Tokyo and
earlier reached 168.99, the lowest ever. It was at 167.61 per
euro late in New York July 20. Japan's currency traded at 121.49
per dollar from 121.27 last week.


Read more at Bloomberg Currencies News

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