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The Economic Times

Business

Yen heads for biggest weekly drop since May despite Tokyo's support pledges

ING Japan Inflation Kevin Warsh United States Euro Oil The US Treasury Department

The yen was on course for its steepest weekly decline since May on Friday, capping a turbulent stretch that has sent the currency to new 40-year lows versus the dollar despite Japan's pledges to stabilise the currency.

Verbal efforts to support the yen have had limited effect, and some analysts believe even intervention would, at best, only buy policymakers some extra time.

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