You are here

US dollar slides vs yen after Friday's rally, risk aversion

Monday, February 29, 2016 - 14:51

YenDollarNotes290216.jpg
The US dollar slid sharply against the yen on Monday as investors took profits following the greenback's rally on Friday, traders said.

[TOKYO] The US dollar slid sharply against the yen on Monday as investors took profits following the greenback's rally on Friday, traders said.

The dollar was down one per cent at 112.815 yen, pulling back after rallying to 114.00 on Friday when a set of upbeat US economic data revived prospects of the Federal Reserve hiking interest rates this year.

A broad slide by regional equities after a G20 policy makers' meeting over the weekend ended without a new coordinated plan to spur global growth also favored the yen.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom