Euro strengthens on session

The yen was weaker Tuesday as investors continued to sell the currency to finance carry trades. The euro and sterling were both higher against the yen as the euro hit another record high at ¥164.61 and sterling set another new 15-year high at ¥242.99 against the Japanese currency. The Australian dollar was also at a 15-year high in relation to the yen at ¥102.05 during the day, while the New Zealand dollar was at a 16½ year high at ¥91.75.

The US dollar also weakened on Tuesday on prospects that US interest rates will neither fall nor rise this year. The greenback dropped 0.1 percent in relation to the yen, to ¥121.62, while the euro and sterling both also gained on the US currency. The euro was 0.2 percent higher to $1.3522 in relation to the US dollar, while sterling rose just a fraction to $1.9921.

Sterling, however, was weaker versus the euro as the shared currency added 0.1 percent to £0.6782 versus the pound.

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