Market News
Dollar perky, yen looks peaky as US rate cut bets fade
Summary
- Yen slides back to where it began the year
- Euro falls to $1.1510;
- Expectations for US cut in December below 25>#/li###
SINGAPORE, Nov 20 (Reuters) - The dollar was riding high on Thursday after Fed minutes made a December U.S. rate cut seem less likely, and its strong gains against the yen prompted traders to ask whether Japanese authorities may step in to stop their currency sliding further.
The dollar rose as high as 157.78 yen towards the end of the Asia session, its strongest since January. The yen's latest decline began after Finance Minister Satsuki Katayama said there had been no specific discussion about foreign exchange at a meeting with Bank of Japan Governor Kazuo Ueda.
