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Yen sell-off rolls past Tokyo's warning of 'necessary steps'

Japanese traders could drive currency as low as 170 to the dollar: hedge fund chief

The yen sank deep into the 144 range against the dollar Wednesday. (Photo by Suzu Takahashi)

TOKYO -- Currency traders' growing confidence that Japanese authorities will not step in to prop up the yen helped drive the currency to a fresh 24-year low Wednesday, with further declines expected.

Finance Minister Shunichi Suzuki voiced concern about the currency's "one-sided" movements and said "necessary steps" would be taken if it continues.

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