US Dollar pushes higher against yen
ecPulse
2014-11-24 15:01PM UTC
The dollar pushed higher against the yen on Monday after China’s unexpected interest rates cut, and European Central Bank’s tendency to inject liquidity in financial markets.
The yen slid lower on Friday after Japan’s Finance Minister Taro Aso voiced concerns over the weaker yen, which reduced the demand for low-yielding currencies such as the Japanese yen.
Japan’s Prime Minister Shinzo Abe dissolved parliament on Friday, clearing the way for elections to be held on December 15.
The US dollar gained support today against the yen and rose 0.38% at 13:34 GMT around 118.23.
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