Filed under: International markets, Forecasts
The dollar plunged to a 13-year low versus Japan’s yen Thursday, falling below 100 yen to 99.77 yen before recovering somewhat, after the markets received work that the a Carlyle Group fund had moved closer to collapse, Bloomberg News reported Thursday.
The dollar also fell against the world’s other, major currencies. The dollar fell about one-half cent to $1.5587 versus the euro, about 1 cent to $2.0350 versus the British pound, and about one-half cent to $1.0088 versus the Swiss franc.
The dollar did recover slightly against the yen to 100.12 yen later in the Asia session, but the plunge to 99.77 represented the dollar’s lowest level against the yen since October 1995. During that period of dollar depreciation, the Bank of Japan, Japan’s central bank, intervened to support the dollar. Thus far, there’s little indication the central bank will do the same today, independent currency trader Andrew Resnick told BloggingStocks Thursday.
Continue reading Dollar falls below 100 yen to lowest level since 1995
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