Dollar rally stalls, giving yen respite [Yahoo! Finance]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Yahoo! Finance
to a pullback in the U.S. currency, which ran into profit-taking after a stellar rally that saw it scale a one-year high. The yen last edged 0.2% higher to 154.40 per dollar, recovering from its fall in the previous session after Bank of Japan Governor Kazuo Ueda stuck to his usual script and failed to offer any hints on whether a rate hike could come in December. "Recent (yen) weakness had many market participants expecting Ueda to sound hawkish, but in the end the Governor stuck to his recent narrative," said Rodrigo Catril, senior FX strategist at National Australia Bank. "We think the economy and price pressures are making a strong case for a hike in December, but much will depend on whether there is any political push back, given the LDP is looking to regain public support, after a poor show at the recent Lower House election." The yen has fallen some 7% since October and had weakened past the 156 per dollar level for the first time since July last week, leaving traders o
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