Yen rises against dollar

AFP, TOKYO:  The yen rose against the dollar yesterday as market sentiment stayed gloomy even after China’s central bank announced fresh stimulus.
The People’s Bank of China said late Monday it would trim the amount of funds banks must keep in reserve by 0.50 percentage point—a mainstay PBoC tool to free up cash for lending to stimulate growth.
The move came after a weekend G20 finance ministers’ meeting in Shanghai and amid lingering worries over the health of China’s economy—the world’s second biggest and a key driver of global growth.
The G20 gathering stressed the use of all available policy tools to boost global growth.

 

Yen rises against dollar

AFP, TOKYO: The yen rose against the dollar yesterday as market sentiment stayed gloomy even after Chinas central bank announced fresh stimulus. The Peoples Bank of China said late Monday it would trim the amount of funds banks must keep in reserve by 0.50 percentage pointa mainstay PBoC tool to free up cash for lending to stimulate growth. The move came after a weekend G20 finance ministers meeting in Shanghai and amid lingering worries over the health of Chinas economythe worlds second biggest and a key driver of global growth. The G20 gathering stressed the use of all available policy tools to boost global growth.