Yen weakens again

Yen weakens again

Story link: Yen weakens again

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The yen weakened Tuesday on more risk appetite among investors based on the hope that new US initiatives to help the economy will be successful and on the possibility that Japan could show a trade deficit for another month.

By shortly after 11 a.m. in New York, the yen had taken back a bit of its losses but still was trading at ¥132.6364 to the euro, at ¥143.7656 to the pound and at ¥98.005 to the US dollar.

The pound was stronger, meanwhile, on a report from the Office for National Statistics which showed that consumer prices rose in the UK in February, adding 3.2 percent from the same month last year.

In late morning trade in New York, the pound traded at 92.26p to the euro while it took $1.4671 to buy a pound.

The Swiss franc was also stronger ahead of a speech by Swiss National Bank Governor Jean-Pierre Roth, which some analysts expected to be used by Mr. Roth to attempt another intervention to weaken the franc after the Bank took steps to pull the value of the currency down recently.

The Swiss currency traded at SFr1.5258 in relation to the euro in morning trade in New York while it was at SFr1.1274 versus the greenback.