US dollar plummets against the yen

A barrage of negative data and the impending collapse of Guernsey-based hedge fund Carlyle Capital sent the greenback tumbling to ¥99.77 in Asian trading on March 13 - a level not breached since 1995. The currency also hit record lows against the euro. The USD/JPY recovered slightly to ¥100.45 later in the day and by early Friday trading in London stood at ¥100.61.

"Unless dollar/yen has intervention, it will go lower," said Paul Blackman, chief dealer at Sumitomo Mitsui Banking Corporation i