Dollar falls against yen

AFP, TOKYO: The dollar extended its losses against the yen and euro yesterday as weak US and Chinese data fuelled concerns about the global economy, and bolstered the case against a December rate rise.
The US government said Friday that consumer spending rose only by 0.1 per cent in the United States in September, less than expected and the slowest rate since January. More US figures, including jobs data, is on tap for later in the week.
The strength of the US economy is key to a Federal Reserve move on interest rates and more weakness could push back a hike -- which is a plus for the dollar -- into 2016.
Sentiment took another hit Monday as weekend data showed activity in China's vast manufacturing sector declined in October for the third straight month, triggering worries about the world's number two economy, a crucial driver of global growth.
"Tokyo has taken over the dollar-selling sentiment from New York," Minori Uchida, head of global markets research at Bank of Tokyo-Mitsubishi UFJ, told AFP.

Dollar falls against yen

AFP, TOKYO: The dollar extended its losses against the yen and euro yesterday as weak US and Chinese data fuelled concerns about the global economy, and bolstered the case against a December rate rise. The US government said Friday that consumer spending rose only by 0.1 per cent in the United States in September, less than expected and the slowest rate since January. More US figures, including jobs data, is on tap for later in the week. The strength of the US economy is key to a Federal Reserve move on interest rates and more weakness could push back a hike -- which is a plus for the dollar -- into 2016. Sentiment took another hit Monday as weekend data showed activity in Chinas vast manufacturing sector declined in October for the third straight month, triggering worries about the worlds number two economy, a crucial driver of global growth. Tokyo has taken over the dollar-selling sentiment from New York, Minori Uchida, head of global markets research at Bank of Tokyo-Mitsubishi UFJ, told AFP.