The yen rose for a third day against the euro as concern that probes into Goldman Sachs Group Inc. will widen and Greece’s aid package may falter boosted demand for Japan’s currency as a refuge.
The euro’s gains against the dollar are unsustainable amid concern that nations on the currency region’s periphery will default on their debts, according to Bank of Tokyo-Mitsubishi UFJ Ltd.
The dollar weakened against most of its major peers after Federal Reserve Chairman Ben S. Bernanke damped speculation that a reduction of U.S. monetary stimulus was imminent.
The dollar rose for the first time in three days against the yen amid speculation a recovery in the U.S. economy will prompt the Federal Reserve to withdraw stimulus that tends to debase the U.S. currency.
"We believe that it will be difficult for the ruble to mount a sustainable rebound."
- Lee Hardman on Jan 11, 2015
Bank of Tokyo’s Lee Hardman Sees Yen Weakening