Dollar hovering just above 7-month low against the yen after Bernanke statement
The dollar fell to just above a 7-month low against the yen today after the Federal Reserve chairman Ben Bernanke stated that the US economic outlook remained “unusually uncertain”. This sparked a sell-off in riskier assets as investors took solace with the yen.
The dollar fell by 0.6% against the yen ending at 86.56 after also losing 0.5% on Wednesday. The euro also fell against the yen as investors look towards European bank stress test results to be released on Friday.
The euro fell by 0.3% against the yen, hitting a two week low at 110.03, but rose 0.3% against the dollar ending at $1.2773.