Singapore, December 01 (QNA) – The dollar tumbled to a three-month low against the yen on Thursday as traders focused on comments by Federal Reserve Chair Jerome Powell that interest rate hikes could be scaled back “as soon as December.”
The dollar was last down 1.32% at 136.295 yen, after falling to 136.205, its lowest level since Aug. 26.
The euro rose 0.39% to $1.04485, heading back toward the five-month high of $1.0497 marked at the start of this week.
Sterling added 0.36% to $1.2102, edging toward last week’s three-month peak of $1.2153.
The risk-sensitive Antipodean currencies also gained, with the Australian dollar last 0.55% stronger at $0.6826, the highest since Sept. 13. New Zealand’s kiwi added 0.69% to $0.63405 after touching $0.6325, the highest since Aug. 17.
China’s yuan saw some volatility in offshore trading. The dollar was last 0.12% stronger at 7.0546 yuan after having weakened as much as 0.3% to a two-week low of 7.0256. (QNA)