Friday, October 21, 2011

Dollar slumps to record low versus yen

NEW YORK, Oct 21 (Reuters) - The U.S. dollar slumped to a record low against the yen on Friday in its biggest one-day decline in nearly two months, bringing back into focus the threat of official intervention to weaken the Japanese currency. Traders reported initial large selling of dollars from a U.K. clearer and macro funds, and losses accelerated after the pair broke through a series of stops around 76.30 and 75.90. "No specific news. Just general investor impatience with the Bank of Japan's lack of a yen weakening policy," said Tommy Molloy, chief dealer at FX Solutions at Saddle River, New Jersey.


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