Dollar extends gains versus yen, hits session high
NEW YORK Nov 16 (Reuters) - The U.S. dollar extended gains against the Japanese yen on Friday to hit a session high on expectations the Bank of Japan will be more aggressive in policy easing.
Overall risk sentiment improved, with U.S. stocks turning positive on news that congressional leaders said their meeting with President Obama about the "fiscal cliff" was constructive.
If Congress and the White House cannot reach a debt and deficit reduction deal by the end of the year it will unleash massive spending cuts and tax increases that some believe have the potential to tip the U.S. economy back into recession.
The dollar rose as high as 81.38 yen. It last traded at 81.36, up 0.3 percent on the day, according to Reuters data.
- Tweet this
- Share this
- Digg this
- In India, rice replaces ice in bucket challenge
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- UPDATE 3-Negative euro overnight rates show cracks in banking system
- India's growth speeds up in after-glow of Modi's triumph
- Indian power station coal stocks lowest since 2012 blackouts
India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article