Japanese corporates count costs of further yen strength

yen-japan

The unprecedented strength of the yen during much of 2011 has caused significant falls in profits for a large number of Japanese corporates, but despite the recent intervention, many expect further yen appreciation lies ahead.

Following intervention by Japanese authorities on October 31, the yen weakened dramatically at the start of November but has since retraced some of that fall, with USD/JPY trading down at 77.33 on November 11, according to data from Thomson Reuters.

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