Yen weak, dollar drifts as traders weigh Fed rate hike path


Singapore, July 3 (BNA): The yen remained sheltered below the psychologically important 145 barrier against the US dollar on Monday, while the dollar weakened after US economic data last week showed a slight decline in inflation and consumer spending.

The yen slipped 0.09% to 144.45 at the start of the second half of the year, after losing 9% against the dollar in the first six months of the year, Reuters reported.

Against the euro, the yen was hovering at 157.66, just below the 15-year low of 158 it touched last week. It rose to 183.58 pounds, the highest level since December 2015.

The Asian currency briefly topped 145 against the dollar on Friday, hitting a near eight-month low of 145.07 as investors watched whether Japanese authorities would intervene in the currency market.

ZH






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