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Article: Dollar gains broadly in New York, hits 8-month high vs yen
- Article from:
- AP Worldstream
- Article date:
- June 28, 2005
- Author:
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LAURENCE NORMAN and LAUREN SILVA
AP Worldstream
06-28-2005
Dateline: NEW YORK
The dollar was broadly higher across the board Tuesday, lifting to multi-month highs versus the yen and other Asian currencies and making sturdy gains on the euro.
The combination of high overnight oil prices, fading expectations of a China revaluation and technical momentum helped the dollar to an eight-month high versus the yen, pushing it above 110 yen for the first time since Oct. 13, 2004. Traders immediately took profits after the move, but by late New York trading, the dollar had again edged just above Y110.
Late in New York, the dollar was at 110.01 yen, off its session high of Y110.09, but up from Y109.31 ...