The yen gained its month high against the dollar

dollar to yen
The yen gained its month high against the dollar./ source via - google search, business news
The U.S. dollar USDJPY, -0.09%  declined to as low as ¥106.14 earlier in the session, its lowest since Oct. 17, 2014, before bouncing back to ¥106.51. This compares with ¥106.45 late Friday in New York.

The Japanese currency strengthened at a rapid pace, as the BOJ’s inaction Thursday dashed hopes for more stimulus especially among non-Japanese investors.

It is a clear indication that the short-term players are being driven the selling, as the dollar’s fall by nearly 6 yen over just two days.

The volume was thin as investors are celebrating the golden week holiday period, Government offices and financial markets will be closed May 3-5 for national holidays.
The yen gained its month high against the dollar The yen gained its month high against the dollar Reviewed by OnlyHeadlines Senior Writer on Monday, May 02, 2016 Rating: 5

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