|09-05-2014, 01:57 PM||#1|
The Yen falls to 6 years low against dollar
The Japanese yen dropped to a six years low against dollar on speculation improvements seen in the United States will encourage the Federal Reserve to raise interest rate, while the Bank of Japan is still keeping its monthly bond buying policy.
Data released recently showed service industries in the U.S. picked up in August at the fastest pace in nine years, in addition to improvements seen in the labor market, giving hope for policy makers to maintain a stable recovery.
The yen slid 0.4% against dollar recording 105.71 as of 8:50 AM in Tokyo, the lowest since October 2008, keeping in mind that the yen lost 4.1% against the green currency in the third quarter of 2014.
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