Dollar steady against yen

AFP, TOKYO: The dollar was steady against the yen yesterday after it was dragged down in response to media reports, later denied, that US President Barack Obama had expressed concerns about the surging greenback.
In Tokyo afternoon trade, the US unit fetched 124.45 yen, against 124.47 yen in New York and 125.52 yen in Tokyo earlier Monday. The currency, which has been on a roll in recent weeks, fell in US trading after media reported, citing an unnamed French diplomatic source, that Obama had told the G7 summit in Germany that the strong dollar “posed a problem”.
The White House denied that quickly, and Obama then told reporters: “I did not say that. And I make a practice of not commenting on the daily fluctuations of the dollar or any other currency.”
The dollar has been surging on hopes for a US interest rate hike this year with last week’s strong US jobs offering the latest clue on the strength of the world’s top economy.

Dollar steady against yen

AFP, TOKYO: The dollar was steady against the yen yesterday after it was dragged down in response to media reports, later denied, that US President Barack Obama had expressed concerns about the surging greenback. In Tokyo afternoon trade, the US unit fetched 124.45 yen, against 124.47 yen in New York and 125.52 yen in Tokyo earlier Monday. The currency, which has been on a roll in recent weeks, fell in US trading after media reported, citing an unnamed French diplomatic source, that Obama had told the G7 summit in Germany that the strong dollar posed a problem. The White House denied that quickly, and Obama then told reporters: I did not say that. And I make a practice of not commenting on the daily fluctuations of the dollar or any other currency. The dollar has been surging on hopes for a US interest rate hike this year with last weeks strong US jobs offering the latest clue on the strength of the worlds top economy.