Japan moves to halt yen gains with new facility


Japan's government on Wednesday announced plans to launch a new lending facility, in its latest attempt to rein in further increases in the yen.

The Wall Street Journal reported that Yoshihiko Noda, Japan's finance minister, had announced plans to set up a $100 billion facility for one year to encourage companies to exchange the yen for foreign currency-denominated assets. Noda is also reported to have said the finance ministry will require major financial institutions to report on their

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