Asia stocks lower, dollar surges against yen (AP)

By admin on October 31st, 2011

A TV cameraman films monitor screens displaying abrupt surge of the U.S. dollar currency rate against the Japanese Yen traded on the Tokyo foreign exchange market at a dealing room in Tokyo Monday, Oct. 31, 2011 after Japanese monetary authorities intervened in the currency market to weaken the yen. Monday's action, confirmed by Finance Minister Jun Azumi, came after the Japanese currency had surged to a post-World War II high of 75.32 yen against the dollar earlier Monday. By 11:45 a.m., Tokyo time, the dollar has risen sharply to 79.19 yen. (AP Photo/Koji Sasahara)AP – Asian stock markets were mostly lower Monday as investors shifted their focus from Europe’s debt woes to the strength of the U.S. economy. Japan sold the yen to limit its export-sapping strength.


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