Sterling sees gains

The yen weakened again on Monday, hitting a new low versus the euro before bouncing back to trade even against the shared currency, dropping to ¥168.54 versus the euro, a new record low.

However, by midday in New York it had regained its previous level of ¥168.03.

Sterling added 0.3 percent to ¥248.51 and the Australian dollar was 0.4 percent higher against the Japanese currency to ¥106.19.

The US dollar traded even versus the yen at ¥123.30, unaided by last week’s employment data amid the expectations of many that US interest rates will not rise before the end of the year.

The pound added 0.2 percent to $2.0515 in relation to the greenback, while it added 0.3 percent to £0.6761 versus the euro, helped by producer price inflation data.

Story link: Sterling sees gains