Asian Session – Yen falls across the board, new records versus dollar, euro
December 13, 2013 8:04 am
The yen was weaker during today’s Asian session, registering new 5-year record lows against both the euro and the dollar.
The dollar rose 0.26% to 103.63 yen, as it traded as high as 103.90; a new 5-year high. The previous high was May’s 103.72. The dollar was helped by the previous day’s stronger-than-expected November retail sales.
The strong retail sales figures in turn raised the probability that the Federal Reserve will begin to taper during its meeting next week.
The euro also climbed against the yen, rising 0.27% to trade at 142.53. The euro traded as high as 142.80 earlier during the session.
The euro was little changed against the dollar, trading at 1.3751. The euro gave up some ground against the dollar on the back of much weaker-than-expected industrial production figures out of the Eurozone.
The yen’s weakness helped the Nikkei stock index to post strong gains, even as other equity markets around the world were challenged by the possibility of Fed tapering.
The Australian dollar remained below the important 0.90 level against the dollar, trading at 0.8931. The Governor of the Reserve Bank of Australia reiterated that the bank would like to see the Australian dollar move lower in order for the economy’s external trade sectors to develop. He also said that 85 cents was a more reasonable target than 95 cents against the US dollar.
The yen was weaker during today’s Asian session, registering new 5-year record lows against both the euro and the dollar.
The dollar rose 0.26% to 103.63 yen, as it traded as high as 103.90; a new 5-year high. The previous high was May’s 103.72. The dollar was helped by the previous day’s stronger-than-expected November retail sales.
The strong retail sales figures in turn raised the probability that the Federal Reserve will begin to taper during its meeting next week.
The euro also climbed against the yen, rising 0.27% to trade at 142.53. The euro traded as high as 142.80 earlier during the session.
The euro was little changed against the dollar, trading at 1.3751. The euro gave up some ground against the dollar on the back of much weaker-than-expected industrial production figures out of the Eurozone.
The yen’s weakness helped the Nikkei stock index to post strong gains, even as other equity markets around the world were challenged by the possibility of Fed tapering.
The Australian dollar remained below the important 0.90 level against the dollar, trading at 0.8931. The Governor of the Reserve Bank of Australia reiterated that the bank would like to see the Australian dollar move lower in order for the economy’s external trade sectors to develop. He also said that 85 cents was a more reasonable target than 95 cents against the US dollar.
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