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Yen fall sharply China ditches yuan peg to dollar

Updated: 2005-07-25 14:20

A Japanese man is reflected on an electronic screen displaying the day's movements of the yen rate against the dollar in Tokyo July 22, 2005. [Reuters]

Pedestrians are reflected on an electronic screen displaying the day's movements of the yen rate against the dollar in Tokyo July 22, 2005. The yen fell sharply on Friday, giving back almost half of its hefty gains scored a day earlier when China ditched the yuan's peg to the dollar, as the initial excitement over Beijing's long-awaited currency shift subsided. [Reuters]