Yen rallies sharply vs dollar as Japanese equities futures drop

NEW YORK, June 14 Fri Jun 14, 2013 12:08pm EDT

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NEW YORK, June 14 (Reuters) - The yen rallied sharply versus the dollar as Japanese equities futures traded down, hitting its strongest level since the Bank of Japan embarked on aggressive economic stimulus in early April

Japanese equities futures, which have been closely correlated to dollar/yen price action in recent weeks, last traded down 1.6 percent.

The dollar fell as low as 94.09 yen, its lowest since the BoJ announced on April 4 that it would buy $1.4 trillion in bonds to stimulate the economy. It last traded at 94.28 yen, down 1.1 percent on the day.

The euro last traded at 125.74 yen, down 1.4 percent on the day, according to Reuters data.

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