The yen gained to a postwar record against the dollar on Friday, as the US economic slowdown and Europe’s debt crisis stoked concerns about global growth.
|||The yen gained to a postwar record against the dollar on Friday, as the US economic slowdown and Europe’s debt crisis stoked concerns about global growth.
The euro erased losses versus the dollar and yen amid speculation the Federal Reserve will consider measures to help ease financial market turmoil. The Swiss franc strengthened against most of its major peers.
“The global slowdown led by that in the US and the European sovereign debt crisis have been weighing on global stock markets and contributing to yen strength,” said Andrew Wilkinson at Interactive Brokers Group.
The yen touched ¥75.95 (R7.08) a dollar on Friday, before trading at ¥76.25 at 10.56am in New York, up 0.4 percent from Thursday’s ¥76.58. – Bloomberg
Source: http://www.iol.co.za/yen-posts-record-against-greenback-1.1121900
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