BLBG: Yen Erases Gains Against Euro, Dollar as U.S. Stocks Rebound
By Ye Xie
Oct. 23 (Bloomberg) -- The yen erased its gains versus the euro and the dollar as U.S. stocks rebounded.
The yen traded at 125.52 at 11:07 a.m. in New York, compared with 125.60 yesterday. It touched 123.43, the strongest level since December 2002. Japan's currency was at 97.37 per dollar, compared with 97.66. The dollar traded at $1.2862 per euro, compared with $1.2855. It touched $1.2728, the strongest since November 2006.
The Standard & Poor's 500 Index rebounded from a five-year low as higher oil prices boosted energy shares, overshadowing a report showing that foreclosures jumped to a record.
To contact the reporter on this story: Ye Xie in New York at yxie6@bloomberg.net
