27.11.2014 15:26
YEREVAN, November 27. /ARKA/. The dollar fell against the yen for a third day, the longest streak in a month, after data raised concern the U.S. economic recovery has plateaued.
The yen rose versus most of its 16 major peers as trading patterns signaled its recent declines were excessive amid speculation traders are reducing bearish positions into month-end. An index of the U.S. currency was little changed as a gauge of whether U.S. economic data has beaten or fallen short of forecasts slid to the lowest level since August. The Norwegian krone was little changed before representatives from oil-producing countries meet to discuss crude output.
“Softer data and falling U.S. yields have encouraged people to unwind their long dollar positions,” said Jeremy Stretch, head of foreign exchange strategy at Canadian Imperial Bank of Commerce in London.
Categories: Exchange market, General news, News, News of the hour | Comments Off on Dollar falls on growth doubt as yen rises amid oversold signals: Bloomberg
Tags:
Read more
