Dollar Hits High Against Yen for the First Time Since 2009
A better than predicted performance of employers in the U. S. has helped the Dollar to rise against Yen to the highest level in last four years.
"We're starting to see a growing list of economic indicators suggesting that there's a broad-based recovery taking place," said Omer Esiner, Chief Market Analyst in Washington at the Currency Brokerage Commonwealth Foreign Exchange Inc. He added that the market now believes that the U. S. economy would recover soon in comparison to its counterparts showing slow economic growth.
The Labor Department earlier had reported a 7.7% decrease in the jobless rate, which was the lowest in the last four years.
Japanese currency Yen reported a dip against 16 other currencies because of increased account deficit of the nation in the month of January. The dollar ascended by 1.2% against per Yen, while, it reported a raise of 0.8% against per Euro.
Mexico currency Peso also reported a raise against its maximum counterparts, triggered by the cut in interest rate by the central bank of the nation. The currency raised this high for the first time after 2009. Peso reported a gain of
1% against per Dollar, this is also first gain of the currency against Dollar after January 2, 2013.
During last two weeks, Sweden currency Krona has lost the maximum against Euro.
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