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Article: Dollar regains ground in New York, nears 17-month high vs yen
- Article from:
- AP Worldstream
- Article date:
- October 17, 2005
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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AZAM AHMED
AP Worldstream
10-17-2005
Dateline: NEW YORK
The dollar neared a 17-month high against the yen and advanced against other currencies too Monday, as traders took Friday's selloff as an opportunity to load back up on dollars.
The U.S. currency rose as high as 114.97 yen in New York trading Monday, just off last week's record of Y115.10, according to electronic foreign exchange broker EBS. The euro fell as low as $1.2012 on Monday, close to the important $1.2000 technical level, where it has been trading for several weeks.
Analysts said the dollar's gains continue to come from expectations for more interest rate hikes by the Federal Reserve.
In late New York trading the euro was at ...
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