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The dollar fell against the yen before a softening test
economy Since 2017-07-12 at 11:46 (Baghdad time)
Follow up of Mawazine News
The dollar fell against the yen on Wednesday, shedding some of its recent strong gains amid investors' reluctance ahead of Federal Reserve Chairman Janet Yellen's testimony.
The US currency fell 0.4 percent against its Japanese counterpart to 113.49 yen in early trading after rising more than five percent last month as traders exploited the contrast in monetary policy of the two central banks in the United States and Japan.
In an interview with the Scottish Press and Journal newspaper published on Wednesday, Deputy Governor of the Bank of England Ben Broadbent said there was reason for the bank to move towards raising interest rates, but there were "many factors that could not be assessed."
His comments pushed the Sterling to a 2-week low against the dollar and an eight-month low against the euro in early trade on Wednesday.
The Canadian dollar rose slightly against its US counterpart as investors awaited the Bank of Canada's interest rate decision later on Wednesday.
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economy Since 2017-07-12 at 11:46 (Baghdad time)
Follow up of Mawazine News
The dollar fell against the yen on Wednesday, shedding some of its recent strong gains amid investors' reluctance ahead of Federal Reserve Chairman Janet Yellen's testimony.
The US currency fell 0.4 percent against its Japanese counterpart to 113.49 yen in early trading after rising more than five percent last month as traders exploited the contrast in monetary policy of the two central banks in the United States and Japan.
In an interview with the Scottish Press and Journal newspaper published on Wednesday, Deputy Governor of the Bank of England Ben Broadbent said there was reason for the bank to move towards raising interest rates, but there were "many factors that could not be assessed."
His comments pushed the Sterling to a 2-week low against the dollar and an eight-month low against the euro in early trade on Wednesday.
The Canadian dollar rose slightly against its US counterpart as investors awaited the Bank of Canada's interest rate decision later on Wednesday.
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