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LONDON, March 22: The yen sank to two-week lows against the dollar and four-week lows against the euro on Friday as traders bet that recent flows into Japanese assets would reverse at the start of the new fiscal year next month.
The yen sank to lows of 132.86 per dollar and near 117 per euro, bringing its losses this week to three yen against both currencies. The euro was stuck at the lower end of this week’s trading range against the dollar, around $0.88.
The yen staged a dramatic rally earlier this month as tighter rules on stock short-selling and repatriation flows ahead of the March 31 financial year-end sent Tokyo stocks soaring. —Reuters
