Bloomberg (23/12) -- The dollar
extended its retreat from a five-year high versus the yen amid
speculation investors are exiting bets on before year-end and ahead of
data on the Federal Reserve’s preferred inflation gauge.
 The U.S. currency last week advanced versus eight Group of 10 currencies as the Fed said it will reduce the size of its bond-purchase program and reiterated that benchmark rates will remain low contingent on jobless and inflation data. Australia’s dollar added to its biggest advance in more than a month and traded about a cent from its three-year low. The greenback was at 104.06 yen as of 10:42 a.m. in Tokyo from 104.10 on Dec. 20, when it reached 104.64, the highest since October 2008. It fell 0.1 percent to $1.3682 per euro. Japan’s currency fell to 142.37 per euro from 142.32. The Bloomberg U.S. Dollar Index, which tracks the U.S. currency against 10 major counterparts, was little changed at 1,021.23 after rising 0.5 percent last week. The measure is up 3.5 percent this year. A budget deal in Washington and the Federal Reserve’s plan to taper its bond buying will allow for a new growth estimate, International Monetary Fund Managing Director Christine Lagarde said on NBC’s “Meet |
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