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Yen, Dollar Slide Against Higher-Yielding Currencies; Euro Gains

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Yen, Dollar Slide Against Higher-Yielding Currencies; Euro Gains

Post by natasa.bale on Tue Apr 16, 2013 9:37 pm

Yen, Dollar Slide Against Higher-Yielding Currencies; Euro Gains
The yen and dollar slid against currencies of commodity-exporting nations including New Zealand and South Africa as investors sought higher-yielding assets and gold and U.S. stocks gained.
Japanís currency dropped versus all of its 16 most-traded peers as investors bet a rally yesterday amid demand for a haven was excessive. The euro climbed to a seven-week high versus the greenback as two regional Federal Reserve Bank presidents said the U.S. still needs monetary stimulus. Mexicoís peso climbed.
The yen sank 2 percent to 128.62 per euro after jumping 3.5 percent during the previous two days. Japanís currency dropped 0.8 percent to 97.55 per dollar. The dollar fell 1.1 percent to $1.3184 per euro and touched $1.3202, the weakest since Feb. 25. The U.S. currency gained 0.6 percent yesterday against the euro.

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