TI:Yen hits 9-month low vs dollar, euro holds firm
LONDON: The Japanese yen slid to a nine-month low against the dollar on Monday, helped by the break of a key chart level, while the euro dipped but stayed close to recent highs ahead of a fresh injection of liquidity by the European Central Bank.
The dollar rose to a high of 81.661 yen in early Asian trade, a gain of more than 7 percent since the start of month, though it later eased back to last trade at 80.85 yen, with traders citing euro/yen selling by Japanese exporters and a reported options barrier at 82 yen.
Some analysts said the dollar may have limited scope to gain much above 82 yen given there is a possibility of more monetary easing by the US Federal Reserve.
