Steady dollar sends yen to the brink of 160 [Yahoo! Finance Canada]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance Canada
investors turned cautious and counted down to the release of U.S. price data at the end of the week. The euro eased marginally overnight and was steady at $1.0708 in Asia trade. At 159.71 per dollar, the yen's level has markets on alert since that is only a whisker shy of where Japanese authorities likely stepped in to buy yen in April. A surprise jump in Canadian inflation that showed up in data released on Tuesday also injected some nerves into otherwise placid foreign exchange trade, sending the Canadian dollar briefly spiking to a three-week high. ADVERTISEMENT "The May (data shows) that monetary policy's normalisation is likely to prove protracted and eventually result in a return to near neutral policy, not an expansionary setting," Westpac senior economist Pat Bustamante said in a note to clients. Markets are banking that Friday's U.S. data shows annual growth in the Federal Reserve's favoured core personal consumption expenditure index slowed to 2.6% in May, the lowe
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