TOKYO — The dollar stabilized Monday morning, following a sharp drop against the yen after last week’s announcement that US President Barack Obama had authorized air strikes in Iraq.
The dollar strengthened to 102.17 yen in Tokyo morning trade, against 102.06 yen in New York late Friday and 101.81 yen in Tokyo Friday afternoon.
The euro was quoted at $1.3399 and 136.91 yen against 1.3416 and 136.93 yen in New York.
“Players bought back the dollar after the market is factoring in the situations in Iraq and Ukraine,” said Yosuke Hosokawa, head of FX sales team at Sumitomo Mitsui Trust Bank.
“Risk-averting moves are …read more
Source: The Philippine Daily Inquirer
