Getting your player ready...
WASHINGTON — Finance officials from the Group of Seven major industrialized countries on Thursday agreed on a coordinated effort to weaken the Japanese yen, which has surged to record levels after last week’s earthquake and tsunami. A super-strong yen could cripple Japanese exports, further worsening the economic impact of the disaster.
The announcement came just as stock trading opened in Tokyo today and had an immediate positive impact. In early trading, Tokyo’s Nikkei index was up about 3 percent. Shortly after the announcement, the yen fell against the dollar, dropping from 79.25 yen to buy $1 to 81.26 yen to purchase $1.
