The yen fell sharply as global financial leaders gathered in Moscow tried to play down fears of a currency war and signalled that they would not interfere in Japan’s plans to boost its economy.
The dollar and euro rose 1 per cent against the yen on Friday after officials said Japan would not face international criticism for its plans to loosen monetary policy that have driven a dramatic sell-off in the country’s currency.
Global currency markets have been unusually volatile in the run-up to the meeting of Group of 20 officials from the world’s largest economies in Moscow to discuss international financial stability.
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