Dollar erases losses versus yen, turns positive
NEW YORK Nov 9 (Reuters) - The dollar recouped all of its losses against the yen to trade slightly higher in late morning trade on Friday, helped by rising Treasury yields.
The dollar last traded 0.1 percent higher at 79.51 yen , off a session low of 79.06.
It had earlier come under pressure after worries about Europe prompted investors to shed riskier traders funded by cheap borrowing in the Japanese currency.
But that reversed somewhat after upbeat U.S. consumer sentiment data lifted stocks.
- Tweet this
- Share this
- Digg this
The Congress party was headed for a bruising defeat in key state elections, including in the capital, early results showed on Sunday, underlining the struggle it will face to cling to power in a national election due by May. Full Article