Yen gains amid US market turbulence
Thursday, 2 August 2007
TOKYO, Aug 1 (AFP): The dollar fell towards a three- month low against the yen in Asian trade today as signs of growing problems in the US housing market prompted investors to pull out of risky positions, dealers said.
The dollar eased to 118.23 yen in Tokyo afternoon trade from 118.60 in New York late Tuesday.
The euro slipped to 1.3652 dollars from 1.3683 and to 161.40 yen from 162.29.
The yen gained as worries about US sub-prime mortgages for risky borrowers grew.
The dollar eased to 118.23 yen in Tokyo afternoon trade from 118.60 in New York late Tuesday.
The euro slipped to 1.3652 dollars from 1.3683 and to 161.40 yen from 162.29.
The yen gained as worries about US sub-prime mortgages for risky borrowers grew.