Skip to main content

Posts

Showing posts with the label fall

Yen wins a 15-years high against doller this month

The yen rose and was on track for its fourth consecutive monthly advance against the dollar on Tuesday, its longest winning streak in 19 months, as investors shrugged off Japan's latest easing move. Demand for the safe-haven currency rose in the past month as U.S. Treasury yields tumbled amid mounting signs the economic recovery in the United States was faltering. The rapid advance, which pushed the yen to a 15-year high this month, prompted Japanese authorities to announce measures on Monday to curb the yen's strength to protect the country's exports. Traders and analysts saw the central bank's moves as a symbolic gesture that will do little to halt the climb. They said that short of direct intervention in the foreign exchange markets, the yen is bound to test its all-time high of 79.75 yen set in April 1995, according to Reuters data. "The policy action by the BoJ isn't going to change the market's mood. It would probably take intervention to shake things