Dollar Drops Amid Speculation Gains Too Fast; Yen Jumps
Todays news comes from Bloomberg.
The dollar fell the most in three months on speculation the currency strengthened too rapidly in September and before a report today that may highlight the uneven nature of the U.S. recovery.
The yen climbed as Japan’s Vice Finance Minister Nobuhide Minorikawa said weakness in the currency is hurting some companies by driving up imported energy prices. The New Zealand and Australian dollars jumped as policy makers eased property restrictions in China, the South Pacific nations’ biggest trading partner. The euro traded near a two-year low before the European Central Bank’s policy decision.
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