| Forex News Center | | | Forex New York Close Archive |
Friday, 16 Jul 2010
Dollar Falls on Negative Consumer Price Data
The dollar pared losses against the yen on Friday after a government report showing U.S. consumer prices fell for a third straight month in June.
A private survey showing U.S. consumer sentiment weakened in early July to an 11-month low added to negative sentiment on the greenback and drove the dollar to a seven-month low against the yen and it is currently trading at 86.65.
The yen's latest rise has brought it to levels that could cause pain to Japanese exporters if its gains are sustained, with the BOJ's tankan survey showing the average forecast for the USD/JPY rate in the year to next March among large manufacturers is 90.18 yen.
