6 December 2001, 11:10  Yen Suffers On Dollar Short Squeeze

A volatile session saw the yen make gain against the dollar in early trade, before falling sharply on news of a corporate bankruptcy and dollar positive comments from a Bank of Japan Policy Board member sent dealers scurrying to cover short positions. The dollar ended the session close to the four month highs set early in the Asian afternoon. The euro was little changed against the dollar, as yen trade dominated the session.

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