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Markets

US dollar jumps vs yen, briefly recoups losses

NEW YORK : The dollar jumped versus the yen in mid-morning trading on Monday, briefly turning positive. The dollar br
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By Abdul Ahad
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dollarNEW YORK: The dollar jumped versus the yen in mid-morning trading on Monday, briefly turning positive.

The dollar briefly rose as high as 77.10 yen on trading platform EBS, well off an earlier 4-1/2-month low of 76.29. The dollar was last down 0.1 percent at 76.59.

Traders said there was no sign of intervention from Japan's Ministry of Finance.

One trader cited reports of dollar/yen buying from one European bank.

 

Copyright Reuters, 2011

 

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