The Australian and New Zealand dollar went up versus the Japanese yen today after Japan’s government intervened, selling the yen. The New Zealand dollar fell against its US and Australian counterparts.
Yoshihiko Noda, Japan’s Finance Minister, said today that Japan unilaterally sold the yen to protect thee nation’s exports, causing the yen to weaken against other most traded currencies, including the Australian and New Zealand ones. The Aussie earlier also strengthened against the greenback, before returning to the opening level. Timothy Connors, head of the foreign exchange at the Custom House Global Foreign Exchange, said: More