Thursday, December 31, 2009

USD Climbed To A 3 Month High Against JPY

The US dollar climbed to a three-month high against the yen on speculation the Federal Reserve is moving closer to withdrawing stimulus measures as the economy recovers, pushing bond yields higher.

Despite a brief dip to 91.90 in Asia, the pair quickly picked up what it left off on Tuesday and price rallied to intra-day high of 92.77 in NY afternoon before retreating in line with dollar's broad-based softness.

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