Yen drops to its lowest level in eight and a half months

Yen

Yen Hui to its lowest level in eight and a half months against the dollar on Tuesday after strong economic data in the United States increased the expectations of investors to raise interest rates this year.

And approached the lowest level of the euro in the year with the growing concerns about the success of the plan of financial assistance to Greece and settled the Australian dollar was up before an expected increase in interest rates.

The dollar rose 0.4 percent to 94.98 yen, its highest level since 24 August. And later settled near 94.90 yen.

The Commerce Department reported Monday that manufacturing in the United States recorded the fastest growth rate in nearly six years in April and rose U.S. consumer spending, which represents more than two-thirds of U.S. economic activity in March for the sixth consecutive month.

The yen fell against the euro and Australian dollar.

The euro of $ 1.3195, unchanged from the closing price in New York, which fell 0.7 percent.

The transaction is expected to be light due to the closure of the market in Tokyo on Tuesday.

News by Mecbiz

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