Dollar falls to lowest level against yen in 14 years
Friday, 27 November 2009
TOKYO, Nov 26 (AFP): The dollar fell below 87 yen in Tokyo trade today to its lowest level in 14 years, a drop traders blamed in part on expectations the Federal Reserve will keep interest rates near zero.
The greenback briefly dipped to 86.51 yen and was trading at its lowest level since July 7, 1995, according to analysts.
"The background to the dollar's fall against the yen is the growing view that US interest rates are going to stay very low for quite some time," an analyst for a Japanese brokerage told Dow Jones Newswires.
The greenback was also hit as positive US economic data Wednesday raised risk appetite for other currencies.
The greenback briefly dipped to 86.51 yen and was trading at its lowest level since July 7, 1995, according to analysts.
"The background to the dollar's fall against the yen is the growing view that US interest rates are going to stay very low for quite some time," an analyst for a Japanese brokerage told Dow Jones Newswires.
The greenback was also hit as positive US economic data Wednesday raised risk appetite for other currencies.