Yen up on oil fears, euro hit by stimulus talk
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Tokyo
THE yen rose in Asia on Wednesday as plunging oil prices sent jittery investors into safer assets, while the euro was hit by expectations of more stimulus from the European Central Bank (ECB).
In Tokyo, the US dollar slipped to 116.79 yen, from 117.90 yen in New York and well down from levels above 118 yen in Asia earlier on Tuesday. The euro weakened to 137.69 yen from 138.84 yen in US trade while it edged up to US$1.1791 from US$1.1777, after comments from a key member of the ECB were taken as an indication new stimulus measures could come soon.
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