Greenback hits two-month low vs. yen

Greenback hits two-month low vs. yen

On Thursday, the evergreen buck hit a two-month minimum against the Japanese yen, having dropped after the minutes of the Fed’s latest gathering disclosed that some Fed policymakers were really concerned about constantly low inflation.

The US currency dipped to 111.07 yen, which is its weakest value since September 18. Later, the greenback came off that minimum and last traded at 111.29 yen, gaining 0.1% on the day.

On Thursday, trading conditions turned to be thinner than usual, with Japanese financial markets unavailable due to a public holiday. As for American markets, they’re going to be closed for the upcoming Thanksgiving holiday.

The US currency nursed its losses having lost almost 1.1% versus the Japanese yen on Wednesday, which is its greatest one-day sag since mid-May.

As a matter of fact, the minutes of the Fed's October 31-November 1 policy gathering issued on Wednesday revealed that Fed policymakers expect that interest rates should be lifted in the nearer future. It definitely backed market expectations that the major US bank will have interest rates increased already in December.


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