Ongoing weak economic data from the United States and concern the Japanese may intervene against the U.S. dollar, has the greenback moving up close to a monthly high against the yen.
Trading was slow Friday for the dollar versus the yen, as the range for the dollar shrank, rising close to 86 yen.
Fears the Bank of Japan may intervene if the dollar moved to about 85 yen kept the trading levels down.
Before the recent intervention of Japan, the dollar had dropped below 83, a 15-year low. Since then the dollar has enjoyed it best week since the latter part of April, gaining 1.8 percent.
The Bank of Japan may have spent about $20.98 billion to strengthen the dollar, according to the Bank of International Settlements.
No comments:
Post a Comment