Yen slips on hawkish Fed comments
Thursday, 9 August 2007
TOKYO, Aug 8 (AFP): The dollar edged up against the yen in Asian trade today after the Federal Reserve dampened expectations of a US interest rate cut and Japanese machinery orders fell sharply, dealers said.
They said a decision by Australia's central bank to hike interest rates to a decade-high level of 6.5 per cent boosted the local dollar as the currency became more attractive to investors even as they grew less risk averse.
The dollar rose to 118.96 yen in Tokyo afternoon trade from 118.82 in New York late Tuesday.
They said a decision by Australia's central bank to hike interest rates to a decade-high level of 6.5 per cent boosted the local dollar as the currency became more attractive to investors even as they grew less risk averse.
The dollar rose to 118.96 yen in Tokyo afternoon trade from 118.82 in New York late Tuesday.