The Japanese yen dropped against the other majors on last Friday in New York, forking back gains from earlier in the day. The yen saw weakness against all 3 majors shortly after finding highs at around 8 a.m. ET. Traders considered data showing that Japanese corporate bankruptcies increased 22.7% annually in July.
The Japanese currency saw early afternoon slips against the euro and extended its daily low. The yen began to drop sharply at around 11:45 a.m. and has continuing for about forty-five minutes. It traded at 162.24 at 12:30 p.m. ET. This took the yen further away from a 3-month high. Trading took place after the European Central Bank launched a 3-day quick tender at four percent at 4:50 EST to add further liquidity, following up on Thursday's injection of 94.8 billion euros in cash into the syste
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