March 18th, 2011 
davidguide Washington, D.C., United States (AHN) – The U.S. dollar has plummeted in value against the Japanese yen.
Currency trading on Thursday saw the dollar fall to a new low of 76.25 against the yen. The situation was a result of global uncertainty since Friday’s 9.0 earthquake in Japan combined with the possibility of more cash flowing into that pushed the value of the yen higher.
The previous record low of 79.75 was set in April 1995.
Analysts think conditions in the earthquake-ravaged country will cause Japan’s central bank to intervene and result in it selling yen and buying dollars for the first time since September 2010.
That would be consistent with actions the Bank of Japan has already taken in response to the crisis in the country.
In addition, Japan’s central bank is expected to begin selling off part of its holding of U.S. government debt instruments and begin purchasing more Japanese government debt instruments.
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