Thursday 14 July 2016

Dollar up versus yen, down against pound ahead of Bank of England rate meeting

The yen weakened against its rival currencies during Asia trade on Thursday, as investors await monetary policy decision by the Bank of England later today.

The U.S. dollar USDJPY, +1.35%  shot to ¥105.37, from ¥104.46 late Wednesday in New York. The euro EURJPY, +1.53%  rose to ¥116.93 from ¥115.87.

Ahead of the BOE policy meeting, the pound GBPJPY, +2.01%  jumped to ¥139.02 from ¥137.35.

Continued gains in Tokyo stocks prompted investors to sell the safety of the Japanese currency bought in troubled times. The Nikkei Stock Average NIK, +0.95%  0.7% on track to close higher after a three-day winning streak.

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