Dollar climbs to 2-month high in lower 109 yen range as rate cut hopes fade

Source: Xinhua | 2019-08-02

The U.S. dollar climbed to the lower 109 yen zone in Tokyo on Thursday, hitting a two-month high on receding expectations for the U.S. Federal Reserve to unroll further rate cuts.
The dollar was quoted at 109.14-15 yen at 5 p.m. local time, compared with 108.71-81 yen in New York and 108.55-56 yen at 5 p.m. on Wednesday in Tokyo.
During the day, it tracked between 108.71 yen and 109.32 yen, trading most frequently at the 109.24 yen mark.
The euro, meanwhile, fetched 1.1032-1033 dollars and 120.41-45 yen against 1.1065-1075 dollars and 120.40-50 yen in New York, and 1.1151-1153 dollars and 121.05-09 yen in late Wednesday afternoon trade in Tokyo.