5 January 2001, 09:57 Yen hits fresh lows against dollar, euro
Tokyo--Jan. 5--The U.S. dollar hit a new 17-month high of 116.50
against the yen while the euro notched a fresh 11-month high. Market
players sold the yen aggressively while market sentiment remains bearish
amid increasing uncertainty over the Japanese economy. The Federal
Reserve's decision to slash the discount rate by 25 basis points failed to
have a significant impact on the foreign exchange market.
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