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G7 Finance Ministers Hold Emergency Meeting Over Skyrocketing Japanese Yen Updated: 2011-03-18 12:00:00 KST

G7 Finance Ministers Hold Emergency Meeting Over Skyrocketing Japanese Yen
After the Japanese yen soared to its highest level against the dollar since World War II the finance ministers of the Group of 7 nations are holding an emergency meeting to tame the price of the Japanese currency.
Among the options being considered by the body which includes Japan, the US and the UK are a mass sell-off of Japanese yen and measures to stabilize global stock markets.
At one point in trading the dollar lost 7.5 percent to the yen compared to the moments before last Friday's earthquake.
Analysts say the spike in the yen is due to expectations that Japan will have to repatriate its currency to pay for rebuilding its nation.
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