FOREX-Yen Takes a Breather from Fall, Sterling Allows
Though the yen’s sell-off paused on Wednesday expectations of radical policy were likely. The dollar fell 0.2 percent in Asia decreasing from a 3-1/2-year peak of 96.71 to 95.85 yen. While investors made a little benefit from the yen, they turned up the heat on sterling, which decreased to $1.4832 on Tuesday before recovering to $1.4933, up 0.2 percent on the day. Sterling’s decline came after data showed British manufacturing output fell in January since June, arousing fears that the economy has fallen into its third bankruptcy since the 2008 financial crisis. Meanwhile, the euro stood at $1.3030, ranging between $1.2955-3135 this month. The yen’s pullback and a steady euro kept the dollar index off its seven-month high hit last week following strong U.S. payrolls data.