Yen Advances past 100 Against the Dollar for Second Time this Week
Thursday, August 18th, 2016
The yen strengthened beyond 100 per dollar for a second time this week as the U.S. currency’s bid to break out from a three-month low stalled after Federal Reserve minutes indicated officials were divided over the urgency to raise interest rates.
A gauge of the dollar has fallen more than 5 per cent this year as investors bet the Fed will raise interest rates at most once this year, compared with policy makers’ forecasts at the start of 2016 for four increases.
That means the U.S. central bank is less likely to diverge from the Bank of Japan and European Central Bank, which are boosting stimulus to spur flagging growth.
