Bloomberg, (1/5) -- The dollar fell versus the
yen for a fifth day, the longest losing streak since September, on speculation
the Federal Reserve won’t slacken its bond-buying program to cap borrowing costs
as the economy loses momentum.
The greenback was 0.1 percent from a almost two-week low against the euro before a report today forecast to show U.S. private employers added the fewest jobs in six months. Australia’s dollar fell for a second day versus Japan’s currency as Chinese data showed manufacturing growth slowed in the South Pacific nation’s largest trading partner. “The Fed will probably be happy to maintain the current rate of asset purchases and not change the language because of the recent soft patch in the data,” said Stan Shamu, a markets strategist at IG Markets Ltd. in Melbourne. “We’re seeing a little weakness in the dollar.” The U.S. currency fell 0.2 percent to 97.29 yen as of 10:34 a.m. in Tokyo. The greenback was little changed at $1.3163 per euro after yesterday touching $1.3186, the weakest level since April 17. The euro fell 0.2 percent to 128.06 yen. Australia’s dollar slid 0.2 percent to 100.89 yen. Private employment rose by 150,000 in April after gaining 158,000 the previous month, data from the Roseland, New Jersey-based ADP Research Institute will probably show, according to the median estimate of economists surveyed by Bloomberg News. U.S. payrolls increased by 148,000 workers after an 88,000 gain in March, a separate survey forecasts before a May 3 Labor Department report. The Fed, which concludes a two-day meeting today, is buying $85 billion of bonds a month in the third round of its quantitative-easing strategy to put downward pressure on borrowing costs. |
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 8:53 AM
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