Sunday, June 3, 2007

Dollar supported by strong data, yen struggles

(Reuters) - The dollar stayed near an eight-week high against the euro on Monday after a strong U.S. employment report further trimmed expectations the Federal Reserve will cut interest rates from 5.25 percent this year.

The yen hovered within reach of a 4 1/2-year low against the dollar at 122.00 little changed after giving up earlier gains as investors shunned the yen for overseas assets with higher returns than Japan's paltry 0.5 percent.


Read more at Reuters Africa

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