Yen close to 4-month peak as investors pursue safety
June 17, 2014 9:42 am
The Japanese yen was around 0.4% from the strongest level in four months versus the euro despite escalating upheaval in Iraq and speculation US figures will underpin weakness in the world’s biggest economy.
“There were some positions unwinding as a result of the situation in Iraq. At this point, the Fed is unlikely to take a very hawkish stance like the BOE did in heightening expectations of a rate hike,” said Yujiro Goto, a currency strategist in London at Nomura Holdings Inc., Japan’s largest brokerage.
Japan’s currency was slightly changed at ¥101.93 per dollar as of 9:12 a.m. in Tokyo after it climbed 0.2% in New York. It reached ¥101.61 on June 12, the strongest since May 30. The yen was at ¥138.39 per euro, previously ¥138.22, when it hit ¥137.71, a level not noticed since February.
The material has been provided by InstaForex Company – www.instaforex.com
The Japanese yen was around 0.4% from the strongest level in four months versus the euro despite escalating upheaval in Iraq and speculation US figures will underpin weakness in the world’s biggest economy.
“There were some positions unwinding as a result of the situation in Iraq. At this point, the Fed is unlikely to take a very hawkish stance like the BOE did in heightening expectations of a rate hike,” said Yujiro Goto, a currency strategist in London at Nomura Holdings Inc., Japan’s largest brokerage.
Japan’s currency was slightly changed at ¥101.93 per dollar as of 9:12 a.m. in Tokyo after it climbed 0.2% in New York. It reached ¥101.61 on June 12, the strongest since May 30. The yen was at ¥138.39 per euro, previously ¥138.22, when it hit ¥137.71, a level not noticed since February.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: