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Japanese Yen Continues Surge as US Dow Jones Tumbles
Monday, 06 October 2008 18:25:45 GMT
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The US Dow Jones Industrials Average continues to tumble through afternoon trade, losing as much as 700 points through time of writing. Such strong downward pressure on stocks has unsurprisingly led to similarly-pronounced Japanese Yen rallies, and the low-yielding currency has rallied an almost-unbelievable 13.6 percent against the high-yielding Australian Dollar. A cursory look at a global map shows exactly how pronounced such tumbles have become—global contagion has left stocks around the world substantially lower on the day’s trade.
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