10:02 AM

Yen drops to its lowest level in eight and a half months


Hui yen to its lowest level in eight and a half months against the dollar on Tuesday after strong economic data in the United States increased the expectations of investors by raising interest rates this year.
And approached the lowest level of the euro in the year, with growing concerns about the success of the plan of financial assistance to Greece and settled before the Australian dollar was up an expected increase in interest rates.
The dollar rose 0.4 percent to 94.98 yen, its highest level since Aug. 24 last year. Later settled near 94.90 yen.
According to the Ministry of Commerce said on Monday that manufacturing in the United States recorded the fastest growth rate in nearly six years in April and increased U.S. consumer spending, which represents more than two-thirds of U.S. economic activity in March for the sixth straight month.
The yen fell against the euro and Australian dollar.
The euro of $ 1.3195, unchanged from the closing price in New York, where it decreased 0.7 percent.
The transaction is expected to be light due to the market closed in Tokyo on Tuesday.
Source: Reuters

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