The dollar fell against the yen on Wednesday on position squaring, with the near-term focus on whether the minutes of the Federal Reserve's June meeting and a speech by Chairman Ben Bernanke will give fresh ammunition to dollar bulls.
The dollar pulled lower from a six-week high of 101.54 yen set on Monday.
The euro and sterling took a breather after having tumbled the previous day, dented by growing expectations that central banks in the Eurozone and Britain will have to keep policy loose for a long time.
The Australian dollar bounced back after falling earlier on Wednesday as weak Chinese trade data reinforced expectations of a slowdown in China, a major export market for Australia.
Later today, investors will scrutinize the minutes of the Fed's June monetary policy meeting and a speech by Bernanke, watching for fresh hints on when the Fed will start reducing its asset purchases, and whether there will be any catalysts for further dollar buying.
Source: FinFX Daily Market Outlook.
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Dollar Falls Against The Yen
Published 07/10/2013, 03:52 AM
Updated 02/21/2017, 08:25 AM
Dollar Falls Against The Yen
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