Yen Rises on Speculation U.S. Will Fail to Agree on Car Bailout
The yen rose against the dollar on speculation U.S. lawmakers will fail to agree on a bailout for the country’s automakers, prompting investors to pare higher- yielding assets funded with Japan’s currency.
The yen also gained against the Australian dollar and the British pound. A $700 billion financial stability package isn’t intended to prevent General Motors Corp., Ford Motor Co. and Chrysler LLC from collapsing, Treasury Secretary Henry Paulson said in a House hearing yesterday.
The yen climbed to 96.70 per dollar as of 8:41am in Tokyo from 97.03 late yesterday in New York.
Against the euro, it was at 122.19 from 122.43.
The euro bought $1.2632 from $1.2618.
Mots clés Technorati : Bailout,Crisis,Forex,JPY,fvarga
Original post by fvarga