Dollar Falls as Yen Continues Its Strong Gains

Dow Jones
Sep 08

0713 GMT - The dollar falls to a two-week low against a basket of currencies as strong gains for the Japanese yen continue. The yen jumps to a six-month high against the U.S. currency, boosted by expectations of faster interest-rate increases by the Bank of Japan and potential for domestic investment inflows. "This still looks primarily like a yen story rather than evidence of a broader shift in sentiment towards the dollar," ING's Francesco Pesole says in a note. Investors meanwhile await Friday's U.S. inflation data, he says. The DXY dollar index is last down 0.3% at 98.882, having hit a low of 98.716. The dollar hit a six-month low of 152.87 yen in Asian trade, according to LSEG data.

 

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