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Yen hits fresh 15-year high against US dollar

Market Data - BBC News

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UK markets
UK markets % change Value
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+0.42%
7331.12
+30.89
+0.21%
20500.45
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Europe markets
Europe markets % change Value
Change
0.00%
543.07
+0.01
+0.56%
5393.74
+29.95
+0.50%
12219.02
+61.35
+0.30%
3368.56
+10.10
+0.41%
9486.30
+38.80
US markets
US markets % change Value
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26405.76
+158.80
-0.08%
7950.04
-6.07
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2907.95
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37121.22
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27407.37
+322.71
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As of 21:13 19 Sep 2018

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GBP
% change One £ buys
Change
GBP against Euro
-0.06%
€1.1261
-0.0010
GBP against Yen
-0.10%
¥147.5950
-0.1500
GBP against USD
-0.02%
$1.3145
0.0000
USD
% change One $ buys
Change
USD against Euro
-0.04%
€0.8566
0.0000
USD against GBP
+0.03%
£0.7608
0.0000
USD against Yen
-0.07%
¥112.2850
-0.0800
Euro
% change One € buys
Change
Euro against GBP
+0.06%
£0.8880
+0.0010
Euro against Yen
-0.02%
¥131.0850
-0.0300
Euro against USD
+0.04%
$1.1673
0.0000
Yen
% change One ¥ buys
Change
Yen against Euro
+0.02%
€0.0080
0.0000
Yen against GBP
+0.10%
£0.0070
0.0000
Yen against USD
+0.07%
$0.0090
0.0000
As of 21:10 19 Sep 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.39%
79.34
+0.31
WTI Crude Oil Futures
+1.82%
71.12
+1.27
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
0.00%
1199.40
0.00
Gold (Forex Index pm fix)
-0.14%
1200.20
-1.70
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
-0.92%
2.91
-0.03
As of 21:13 19 Sep 2018

The yen has hit a new 15-year high against the US dollar after Japanese Prime Minister Naoto Kan won a vote for control of the ruling party.

The dollar slid to 83.09 yen shortly after it was confirmed that Mr Kan had survived the leadership contest. It was later trading at about 83.40 yen.

Analysts fear the rising yen is undermining Japan's recovery, making exports less competitive overseas.

The record low for the dollar is 79.75 yen, reached in April 1995.

Mr Kan's defeated opponent, Ichiro Ozawa, had been seen as more likely to take action to combat the strength of the yen.

"Ozawa had made comments that had been stronger on intervention, so there was a knee-jerk reaction to Kan's win," commented Simon Derrick, head of currency research at Bank of New York Mellon in London.

But Koichi Haji, chief economist at NLI Research Institute in Tokyo, said: "Kan probably won't be as forceful in calling for monetary easing by the Bank of Japan (BoJ) as Ozawa. But that doesn't mean the BoJ won't come under pressure. If the economy worsens, Kan will certainly ask for further monetary easing."