G-7 pledges intervention to stem yen appreciation


G-7 finance ministers and central bank governors have pledged to intervene in foreign exchange markets in order to stem a disorderly appreciation of the yen.

"In response to recent movements in the exchange rate of the yen associated with the tragic events in Japan, and at the request of the Japanese authorities, the authorities of the United States, the United Kingdom, Canada and the European Central Bank will join with Japan, on March 18, 2011, in concerted intervention in exchange markets," t

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