NEW YORK Jan 30 The dollar pared gains versus the yen on Wednesday after data showed the U.S. economy unexpectedly contracted in the fourth quarter, suffering its first decline since the 2007-09 recession.
The dollar briefly traded as low as 90.89 yen, according to Reuters data and was last at 91.05 yen, still up 0.3 percent on the day. Before the release of the data, the dollar was trading around 91.18 yen.
The euro was last at $1.3539, up 0.4 percent on the day, after rising as high as $1.3548 after the data.
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Fewer auspicious days later this year compelled Ramesh Phalke, an auto company employee in Maharashtra, to hold his daughter's wedding in May. This bride was lucky because many other weddings will likely be postponed - to the dismay of the country's jewellers. Full Article