Dollar Tumbles Against Yen

The dollar fell sharply against the Japanese yen Thursday on a report that Japan’s government may buy land seized as collateral for bad loans, a serious problem for the nation’s sputtering economy.

Japan’s housing-market crisis has been persistent and a major factor holding back a recovery from a lengthy and stubborn recession. Tokyo stocks as well as the yen rallied on the prospect of government help, which some feel might be enough to kick the economy back on track.

The mark’s gains against the dollar exacerbated the greenback’s decline against the yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7345 1.3614 France .1759 5.6855 Germany .5938 1.6840 Great Britain 1.6107 .6208 Italy .000601 1664.00 Japan .008160 122.55 Mexico .128949 7.7550