Dollar rises above 110 yen for the first time since August 2008
Thursday, 2 October 2014 00:59
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Reuters: The dollar rose above 110 yen for the first time since August 2008 on Wednesday, continuing to ride on bullish momentum against its peers generated by gains against a flagging euro.
The dollar had jumped more than 5% against the yen last month, buoyed by factors including enhanced prospects for an early rate hike by the Federal Reserve.
The dollar was up 0.4% at 109.98 JPY= after touching 110.09.
The euro was down 0.2% at $1.2612 EUR=, having retreated to a fresh two-year low of $1.2571 overnight as a further slowdown in euro zone inflation intensified pressure for more stimulus from the European Central Bank.
