Dollar drops below 109 yen range in early trading
The dollar temporarily plunges below 109 yen in early trading
in Tokyo on Jan. 12, following a 28-month low of 108.21 yen in New
York overnight. The display at Tokyo Forex Co., a Tokyo-based foreign
exchange brokerage, showed the U.S. currency momentarily marking
108.78 yen. However, the U.S. dollar bounced back sharply on
short-covering, topping 111.42 yen at 11 a.m.
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