Dollar Snapped a Three-day Drop agains Yen Before FOMC

by on July 9, 2014 1:07 pm GMT

The dollar rose 0.1 percent to 101.69 yen at 7:44 a.m. New York time after reaching 101.45 yen, the weakest since July 2. The dollar was little changed at $1.3607 per euro. The Japanese currency was at 138.36 per euro, also little changed.

The Fed will publish today minutes of its June 17-18 meeting, when officials trimmed monthly bond purchases to $35 billion. U.S. central bank Chair Janet Yellen said rates will probably stay low for a “considerable time” in a press conference after the gathering.

The yen weakened against all but two of its 16 major peers. China’s yuan rose to the strongest level in three months as the two-day Strategic and Economic Dialogue got underway and before a report economists said will show the Asian nation’s trade surplus rose in June. The Swedish krona jumped at least 0.3 percent versus all of its most-traded peers as unemployment climbed less than analysts forecast. New Zealand’s dollar was within 0.5 percent of a record high.