Yen stable in edgy market
12 April 2012
INTERVENTION jitters kept the US dollar hovering around 125 yen on edgy foreign exchange markets. The Bank of Japan intervened on Wednesday and Thursday, buying an estimated $3bn of yen amid concerns that the currency's recent surge could derail Japan's fragile recovery.
Japanese officials have made it clear they will step into the market again if the yen rises too quickly.
Sterling was a fifth of a cent weaker at $1.4530 or 63.27p against the euro. The gold price slipped from last night's two-year high of $323.60 an ounce but remained above $320. In early trading, it was at $322.30.
