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Dlr/yen jumps 1 pct, talk of possible intervention

Published 10/31/2010, 08:19 PM
Updated 10/31/2010, 08:24 PM

TOKYO, Nov 1 (Reuters) - The dollar jumped sharply against the yen on Monday, climbing from about 80.35 yen to above 81.00 yen very quickly and traders said there was talk of possible intervention but they weren't sure.

The market is wary that Japanese authorities could intervene the closer the dollar falls to its post-war record low of 79.75 yen.

The dollar jumped to 81.60 but quickly gave back some of its gains to trade at 80.73 yen, up 0.5 percent on the day.

Japanese authorities intervened to sell yen for the first time since 2004 on Sept. 15, intervening repeatedly through the Asian, European and U.S. trading day to drive the dollar up from a 15-year low. (Editing by Chris Gallagher)

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