TOKYO : The dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency.The Australian dollar rode a rollercoaster after it jumped on heated local inflation data only to be dragged l
TOKYO : The dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency.
The Aussie was last down 0.15 per cent at $0.6507, heading back toward last week's 6 1/2-month low of $0.6490. It sank as much as 0.38 per cent at its lowest point, immediately after climbing as much as 0.33 per cent. "The lack of positive news coming from economic activity in China is exacerbating that view, and proving to be the dominant one," trumping increased likelihood for further Reserve Bank of Australia tightening"sooner rather than later" following a hotter-than-expected consumer price reading, he said.Against the Chinese yuan, the U.S. dollar climbed as much as 0.38 per cent to 7.1171 for the first time since Nov. 30.
"I think the real line in the sand is 150," added Wakabayashi, who expects diverging monetary policy outlooks in Japan and the United States to continue to push the currency pair higher.
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