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Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWireTOKYO - Japanese authorities likely intervened in the currency market to signal they see 160 yen to the dollar as their line in the sand, Columbia University academic and former finance ministry executive Takatoshi Ito told Reuters on Thursday.
Japanese authorities are suspected of having stepped into the foreign exchange market at least twice this week to prevent sharp and economically debilitating declines in the yen. "When the yen's decline is proceeding gradually reflecting interest-rate differentials, it's hard to change the trend with currency intervention," Ito said.
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