Yen falls on both day, week

Yen falls on both day, week

Story link: Yen falls on both day, week

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Friday saw the Japanese yen ending both the session and the week higher after investors once again exited carry trades in the wake of no indication from US Federal Reserve chairman Ben Bernanke that US interest rates would be cut anytime soon.

The yen added 0.2 percent on the day and 0.6 percent on the week to ¥115.70 versus the US dollar, while it gained 0.2 percent for the day and 0.8 percent this week to ¥157.60 in relation to the euro and was up 0.1 percent on the session and 0.5 percent for the week to ¥233.50 against sterling.

The Swiss franc was lower after consumer price inflation dropped there in August, leaving an interest rate hike by the Swiss National Bank less likely in September and sending it 0.3 percent lower to SFr1.6470 versus the euro and down 0.5 percent to SFr2.4340 in relation to the pound, while it fell 0.6 percent to SFr1.2070 against the greenback.

The US dollar was mixed, dropping 0.1 percent to $2.0170 against sterling but adding 0.3 percent to $1.3640 in relation to the euro.

Both the Australian and New Zealand dollars lost significant ground to the yen and the US dollar during the week.

The Australian dollar dropped more than 1 percent to both the dollar and the yen, to $0.8150 and ¥94.20 respectively, while the New Zealand currency dropped 2.3 percent to $0.7020 versus the US dollar and fell 3.1 percent to ¥81.30 in relation to the yen.