Yen Falls To Lowest Level Since February Against The Dollar, Thursday, May 17, 2007 7:28:28 AM

The yen weakened against other major currencies Thursday morning in New York, hitting a multi-month low against the greenback. Trading took place after the Bank of Japan elected to maintain its key interest rates at 0.50%.

The yen moved back towards a record low from the previous session against the euro Thursday morning in New York, trading at 163.73 ahead of today`s European Central Bank report for May.

The yen fell to its lowest point since late February against the dollar Thursday morning in New York, dropping to 121.13 ahead of the mid-morning release of weekly jobless claims data from the US.

The yen dropped to a one-week low of 239.50 against the sterling Thursday morning in New York as traders assessed data from the UK showing housing starts fell 9% on year in the first quarter.

Copyright © 2007 RTTNews.com. All Rights Reserved.