Dollar Gains for Third Day Versus Yen Before Bernanke Comments
Bloomberg
19/6 --The dollar rose for a third day versus the yen amid speculation
Federal Reserve Chairman Ben S. Bernanke will today provide more
information about when U.S. policy makers will start to reduce bond
purchases.
The Australian dollar dropped for a fourth day as traders sold higher-yielding currencies before the Federal Open Market Committee concludes its two-day meeting. The euro held near a four-month high ahead of data tomorrow forecast to show a euro-area services and factory output gauge improved.
“After the FOMC, I expect stock markets to stabilize and the yen to be a little more susceptible to selling,” said Minori Uchida, the Tokyo head of global market research at the Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan’s biggest financial group by market value.
The dollar advanced 0.2 percent to 95.50 yen at 10:38 a.m. in Tokyo, adding to a 1.1 percent two-day gain. It was little changed at $1.3398 per euro from $1.3392 yesterday, when it touched $1.3416, the lowest level since Feb. 20. Japan’s currency weakened 0.2 percent to 127.96 per euro.
The Australian dollar dropped for a fourth day as traders sold higher-yielding currencies before the Federal Open Market Committee concludes its two-day meeting. The euro held near a four-month high ahead of data tomorrow forecast to show a euro-area services and factory output gauge improved.
“After the FOMC, I expect stock markets to stabilize and the yen to be a little more susceptible to selling,” said Minori Uchida, the Tokyo head of global market research at the Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan’s biggest financial group by market value.
The dollar advanced 0.2 percent to 95.50 yen at 10:38 a.m. in Tokyo, adding to a 1.1 percent two-day gain. It was little changed at $1.3398 per euro from $1.3392 yesterday, when it touched $1.3416, the lowest level since Feb. 20. Japan’s currency weakened 0.2 percent to 127.96 per euro.
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