The
yen headed for its first back-to-back weekly gain in three months as
signs of weakness in some of the world��s biggest economies spurred
demand for haven assets.
The
dollar traded near the lowest in almost two months against its Japanese
peer as Federal Reserve Chair Janet Yellen said the U.S. has œfurther
to go to achieve a healthy economy, following data yesterday that
showed inflation accelerated while industrial production unexpectedly
fell. The euro was set for a second weekly decline versus the yen after
growth missed economist forecasts, adding to speculation the European
Central Bank will boost measures supporting expansion.
The
yen was little changed at 101.57 per U.S. dollar as of 10:50 a.m. in
Tokyo after touching 101.32 yesterday, the strongest since March 19. It
traded at 139.35 per euro from 139.26 after strengthening to as much as
138.98 yesterday, a level unseen since Feb. 27. Europe��s shared
currency bought $1.3719 from $1.3710 yesterday, when it fell to $1.3648,
the lowest since Feb. 27.
Source : Bloomberg
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