Yen crashes to 20-month lows against dollar

The yen fell beyond 120 to the dollar for the first time in 20 months on Mar 7, 2001 as expectation grew that Japan would tolerate a weaker yen to bolster its flagging economy.

Comments from Japan's Finance Minister Kiichi Miyazawa that it would be acceptable for the yen to weaken naturally gave the dollar the spur to rise above the 120 barrier - a level that has frustrated it on numerous forays higher in recent months.

Yen traders had already endured a whipsaw session after Bank of Japan Governor

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