Yen extends losses, hits 20-month low vs dollar
SINGAPORE (Reuters) - The yen fell to a 20-month low against the dollar on Wednesday, pressured by expectations that incoming Japanese Prime Minister Shinzo Abe would push the Bank of Japan into more forceful monetary easing.
The dollar rose as high as 85.08 yen on trading platform EBS, the greenback's highest level since April 2011, and last stood at 85.03 yen, up 0.4 percent on the day.
(Reporting by Masayuki Kitano; Editing by Edmund Klamann)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. Full Article | Full Coverage