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FOREX-Dolar steadies after rally, near 15-yr low vs yen

Discussion in 'Forex Daily News & Outlook' started by honeyks, Aug 12, 2010.

  1. honeyks

    honeyks New Member

    Feb 26, 2010
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    by http://is.gd/e3ve5

    * Risk reduction benefits dollar, yen

    * Little sense of overheating in dollar, yen rallies

    * Greenback may find support at 84.00 yen, then 83.50 yen

    By Rika Otsuka

    TOKYO, Aug 12 (Reuters) - The dollar steadied on Thursday after scoring its biggest daily gain for nearly two years against most major currencies the previous day as concerns about the U.S. and global economies triggered a wave of unwinding in short dollar positions.

    But the greenback was on the backfoot against the yen, hovering near a 15-year trough of 84.72 yen hit on trading platform EBS on Wednesday, when it took out option barriers around 85.00 yen and a November low of 84.82 yen.

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