from Reuters:
The yen rallied to a 10-month high against the greenback as investors bet interest rates in the United States will remain low. The dollar also slumped to a 15-month low against a basket of six currencies.
Recent dollar weakness is becoming a dilemma for Japan's new government, which has only been in power for two months, as it threatens exporters' earnings and could slow an economic recovery.
Investors are increasingly on edge, and that has sent the Nikkei stock average to a four-month low and pushed 10-year Japanese government bond futures to a seven-week high.
"The dollar has weakened again," Noda told Reuters. "We are not considering intervention right now."
The dollar last traded at 87.43 yen. The greenback skidded to 87.21 yen on trading platform EBS on Wednesday, the lowest since January.
