Dollar jumps above 110 yen for the first time since August 2008
Dollar jumps above 110 yen for the first time since August 2008
01/10/2014 11:49
Agencies – and the dollar continued to rise strongly against the Japanese currency in Asian trade on Wednesday to jump above the level of 110 yen for the first time since August, 2008.
The dollar surged more than 5 percent against the yen last month, supported by factors including increased expectations that the Fed will raise interest rates sooner than expected.
The dollar rose 0.5 percent against the Japanese currency during morning trading in Asia for up to 110.09 yen before easing slightly to 109.90 yen by 0245 GMT time.
The euro fell 0.2 percent against the greenback to 1.2612 dollars after it was dropped in trading last night to a new low in two years at 1.2571 dollars after data showed a further slowdown of inflation in the euro zone, which led to ratchet up the pressure on the European Central Bank to take additional measures to stimulate cash.
alrayy.com
