Yen falls further as BoJ pick backs inflation target
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The yen sank further on Monday after the nominee to lead the Bank of Japan reiterated his vow to ramp up monetary easing and pursue higher inflation, while the euro gained slightly on the dollar. -- FILE PHOTO: AP
NEW YORK (AFP) - The yen sank further on Monday after the nominee to lead the Bank of Japan reiterated his vow to ramp up monetary easing and pursue higher inflation, while the euro gained slightly on the dollar.
At 2100 GMT (5am Singapore time) the dollar was buying 96.26 yen (S$121), compared with 95.97 yen late Friday. The euro pushed to 125.59 yen from 124.83 yen.
The euro pushed to $1.3046 from $1.3004.
"Despite all the bad news... the euro refuses to go down," said Mr Boris Schlossberg of BK Asset Management, referring to poor growth and production data from the eurozone on Monday.
