This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8380030.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Dollar falls to a 14-year yen low | Dollar falls to a 14-year yen low |
| (about 11 hours later) | |
| The US dollar has hit a 14-year low against the Japanese yen with low interest rates in the US making the greenback less attractive to investors. | The US dollar has hit a 14-year low against the Japanese yen with low interest rates in the US making the greenback less attractive to investors. |
| The dollar fell to 86.28 yen in early Thursday trading, it's lowest level since 1995, before recovering to 86.61. | |
| The US has indicated it is unconcerned about the dollar's slide, and will not intervene to strengthen it. | The US has indicated it is unconcerned about the dollar's slide, and will not intervene to strengthen it. |
| Many traders are swapping dollar holdings for gold as a safer investment in the current economic climate. | |
| The price of gold hit a fresh record high of $1,194.9 per ounce on Thursday, before falling back slightly to $1,182.4. | |
| Close watch | Close watch |
| "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle itself," said Yutaka Miura at Mizuho Securities. | "This yen strengthening is caused by dollar selling rather than yen buying, so this is not something Japan can handle itself," said Yutaka Miura at Mizuho Securities. |
| "This trend will continue unless the Japanese government takes action, in co-operation with the US." | "This trend will continue unless the Japanese government takes action, in co-operation with the US." |
| In the short term at least, analysts said such intervention was unlikely. | In the short term at least, analysts said such intervention was unlikely. |
| Finance Minister Hirohisa Fujii said that he was keeping "close tabs" on the yen and would take "appropriate measures" if exchange rates "moved abnormally". | Finance Minister Hirohisa Fujii said that he was keeping "close tabs" on the yen and would take "appropriate measures" if exchange rates "moved abnormally". |
| But his comments did little to ease worries among investors. | But his comments did little to ease worries among investors. |
| "He is finance minister, so of course he should be monitoring foreign exchange closely," said Tsuyoshi Segawa at Mizuho Securities. | "He is finance minister, so of course he should be monitoring foreign exchange closely," said Tsuyoshi Segawa at Mizuho Securities. |
| The strengthening yen relative to the dollar caused Japanese shares to fall, with the main Nikkei 225 index dragged lower by major exporters, whose products become more expensive in the US as the yen strengthens. | The strengthening yen relative to the dollar caused Japanese shares to fall, with the main Nikkei 225 index dragged lower by major exporters, whose products become more expensive in the US as the yen strengthens. |
| The dollar has also fallen significantly against the pound and the euro this year. | The dollar has also fallen significantly against the pound and the euro this year. |