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Article: Japan : Yen Rallies to Seven-Month High as Japan Opposes Intervention.
- Article from:
- TendersInfo
- Article date:
- October 5, 2009
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The yen rose to a seven-month high versus the dollar as Japan s new government reiterated its opposition to intervening to stem a currency s gain and the Federal Reserve pledged to keep interest rates low.
Sterling dropped to a three-month low below $1.60 this week after Bank of England Governor Mervyn King was quoted by a newspaper as saying the pound s weakness is aiding in rebalancing the U.K. s economy. The dollar reached a one-year low versus euro on increased demand for riskier assets before a report next week forecast to show U.S. job losses slowed.
The yen is getting a benefit from the fact that there is no political intervention, and that it s ...