US dollar falls more than 1% on the day against yen
[TOKYO] The US dollar fell more than 1 per cent against the yen on Tuesday, on investors' growing expectations that the Japanese government's stimulus steps will fall short of initial hopes.
The dollar was down 1 per cent at 104.71 yen after dropping as low as 104.625 yen earlier on the EBS trading platform, its lowest since July 14.
The Japanese government is also putting together a massive spending package worth about 20 trillion yen (S$257 billion), government sources told Reuters last week, though actual public spending will be far less than the headline number suggests.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea