TOKYO: Japan’s finance minister on Tuesday warned of a rapid rise in the yen after the 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 dollar was above 124 yen last week.
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