FRX: U.S. Dollar Up against Japanese Yen as Long-Term Investors Foresee Possible Rate Hike
In Asian trading today, the U.S. Dollar gained versus the Japanese Yen with long-term investors buying the U.S. currency based on speculation that interest rates in the United States will rise within the next year while Japanese rates remain unchanged. Nonetheless, many dealers do expect that, in the short term, the greenback will fall later this week following the release of U.S. economic data including consumer spending and non-farms payroll data. As reported at 2:47 p.m. (JST) in Tokyo, the U.S. Dollar was trading against the Yen at 89.44 Yen, a slight gain from Friday’s late trade of 89.26 Yen in the New York market. The U.S. Dollar Index, a measure of the greenback’s performance... Full Story
