Yen slightly softer against dollar, Fed rate cut remains uncertain

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Yen slightly softer against dollar, Fed rate cut remains uncertain - Business Standard

Quick Summary:

The Aussie was barely up at $0.6577 on Monday, while the New Zealand dollar stayed below last week's three-week high of $0.6035.It was last at $0.6009.

The violent selloff in the dollar-yen pair between July 3 and Aug.5, sparked by Japan's intervention, a Bank of Japan rate rise and then an unwinding of yen-funded carry trades, caused it to fall 20 yen.

The yen reached its strongest level since Jan.2 at 141.675 per dollar last Monday.It is still down 3.8 per cent versus the dollar so far this year.J.P.