Market Report - Yen Gains Value

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Uploaded by on Jan 23, 2009

CHAN:
And in other business news... the yen rose broadly towards a 13-year peak against the dollar and a near 7-year high versus the euro. It comes amid growing investor anxiety about global banking woes.

Traders say expectations for further shrinking interest rate gaps between Japan and Britain, Europe added to the yen's strength versus sterling and the euro.

Japanese authorities have tried to talk down the yen, especially after the dollar crashed through 90 yen last year.

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