The yen was on track for its fourth consecutive monthly advance against the dollar on Tuesday, its longest winning streak in 19 months, as investors shrugged off Japan's latest easing move. Demand for the safe-haven currency rose in the past month as US Treasury yields tumbled amid mounting signs the economic recovery in the United States was faltering.
In early afternoon trading, the dollar was down 0.6 percent at 84.11 yen. It had earlier fallen to 83.96, according to Reuters data, not far from its 15-year low of 83.58 set on electronic trading platform EBS last week. The euro fell 0.3 percent to 106.77 yen. The dollar has fallen almost 3 percent against the yen this month and is down more than 9 percent this year. Against the dollar, the euro rose 0.3 percent to $1.2705, helped in part by strong job numbers from Germany. The euro slumped to a record low against the safe-haven Swiss franc, removing barriers at 1.2900 on the way. The euro fell as low as 1.2878 francs on EBS. The dollar fell to a seven-month low against the Swiss franc.
Comments
Comments are closed.