Well, here's part of the "Who's selling, anyway?" answer - Japanese investors cashing up and repatriating their money -
2:39pm 09/20/01 Dollar slides to 7-mo. low vs. the yen By Tom Kilgore
The U.S. dollar is slumping versus its Japanese counterpart, as fears over central bank intervention subside. The dollar is currently fetching 115.98 yen, 1.4 percent less than it did late Wednesday in New York. Earlier in the session, the dollar hit a low of about 115.80, a level not seen since late-February. The Bank of Japan has been entering the market during Tokyo hours this week in an attempt to halt the dollars decline against the yen, which has now reached approximately 5 percent from September's highest levels. Against the euro, however, the dollar is trading at $0.9250, 0.1 percent stronger than late-Wednesday levels. |
