Tags: Dollar | Slides | 15-Year | Low | Yen

Dollar Slides to Fresh 15-Year Low Against Yen

Friday, 29 Oct 2010 11:19 AM

The U.S. dollar extended losses versus the yen to hit a fresh 15-year low on Friday amid expectations the Federal Reserve will engage in a new round of monetary policy easing next week.

The dollar fell to 80.52 yen on trading platform EBS, within striking distance of its record low of 79.75 yen set in 1995.

If the Fed engages in aggressive quantitative easing, it is likely to push the dollar to 75 yen, said Greg Salvaggio, vice president of trading at Tempus Consulting in Washington.

Stop-loss orders were reported under 80.40 ahead of a layer of bids from 80.30 to 80.00. There are also significant option barriers at the 80 level.

Traders also noted fixing-related dollar selling.

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The U.S. dollar extended losses versus the yen to hit a fresh 15-year low on Friday amid expectations the Federal Reserve will engage in a new round of monetary policy easing next week. The dollar fell to 80.52 yen on trading platform EBS, within striking distance of its...
Dollar,Slides,15-Year,Low,Yen
118
2010-19-29
Friday, 29 Oct 2010 11:19 AM
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