Yen, greenback weaker

The yen was weaker in New York trade as investors began to sell the Japanese currency once again, so that by midday in New York, the US dollar was up 0.1 percent to ¥121.86 versus the yen, while the euro had added 0.3 percent to ¥167.84 in relation to the Japanese currency.

In addition, the Australian dollar was 0.5 percent higher to ¥105.29, while the New Zealand dollar gained 0.7 percent on the yen, to ¥94.94.

Despite gains versus the yen, the US dollar lost ground to both the euro and sterling on comments from the chairman of the Federal Reserve on Tuesday that led analysts and investors to believe that US interest rates are not likely to rise soon.

In midday trade in New York the euro had added 0.1 percent to $1.3764 versus the greenback, while sterling was up 0.3 percent to $2.0334.

Story link: Yen, greenback weaker