The yen strengthened versus the dollar Wednesday in New York. The Japanese currency gained through the mid-morning before reversing course around 8:30 am ET after the release of the U.S. first quarter productivity report. The yen began to advance again at 10 am before leveling off in the early afternoon. At 2:30 pm, the yen fetched a mark of 120.95 against the greenback. This is compared to an intraday high of 120.88 at 8:30 am and an intraday low of 121.48 at 3 am.
Against the euro, the yen advanced Wednesday in New York. The Japanese currency fell slightly in the early morning, but rebounded to advance through much of the morning. The yen has leveled off from its gains in the early afternoon. At 2:40 pm, the yen traded at a mark of 163.41. That is compared to an intraday low of 164.27 at 2:50 am. Traders considered the European central bank`s interest rate hike from 3.75% to 4.0%
The yen gained ground against the sterling in New York on Wednesday. The Japanese currency advanced through most of the morning before giving back some of its gains just before 8 am ET. The yen resumed its increases at 10 am, lasting into the early afternoon. At 2:40 pm, the yen fetched a mark of 240.98, its lowest point versus its Japanese counterpart since Friday. This is compared to a level of 242.26 at 2:30 am. Traders considered data showing that British consumer confidence rose for the fifth consecutive month to its highest level in eighteen months. Investors also awaited the release of interest rates from the Bank of England on Thursday.
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