steveox
Well-Known Member
TOKYO (AFP) – The dollar hit a new 15-and-a-half-year low of 80.21 yen in Wellington on Monday, edging closer to its all-time low below the 80 yen line hit in April 1995, Japan's Kyodo News reported.
The dollar's slide came amid speculation that the US Federal Reserve may soon take additional monetary easing measures this week, after the greenback declined against the yen Friday in New York.
In early morning Monday trade in Asia, the dollar was changing hands at 80.30-35 yen.
The dollar's fresh 15-and-a-half-year low came even after Japan's central bank on Thursday lowered its forecast for the nation's growth and warned that a strong yen was slowing the fragile recovery from recession.
A modest rise in US economic output issued Friday bolstered expectations of a new government stimulus.
The US central bank's policy-setting Federal Open Market Committee was expected to announce at the conclusion of a meeting on Wednesday a decision to renew asset purchasing policies in a bid to boost the economy, in what is known as quantitative easing.
The anticipation of a fresh stimulus has taken a heavy toll on the dollar in recent weeks.
http://news.yahoo.com/s/afp/20101031/ts_afp/forexasiajapan
Gleen Beck is right
The dollar's slide came amid speculation that the US Federal Reserve may soon take additional monetary easing measures this week, after the greenback declined against the yen Friday in New York.
In early morning Monday trade in Asia, the dollar was changing hands at 80.30-35 yen.
The dollar's fresh 15-and-a-half-year low came even after Japan's central bank on Thursday lowered its forecast for the nation's growth and warned that a strong yen was slowing the fragile recovery from recession.
A modest rise in US economic output issued Friday bolstered expectations of a new government stimulus.
The US central bank's policy-setting Federal Open Market Committee was expected to announce at the conclusion of a meeting on Wednesday a decision to renew asset purchasing policies in a bid to boost the economy, in what is known as quantitative easing.
The anticipation of a fresh stimulus has taken a heavy toll on the dollar in recent weeks.
http://news.yahoo.com/s/afp/20101031/ts_afp/forexasiajapan
Gleen Beck is right
