US dollar falls to 14-year low against the yen

Source: BBC News



BBC - The US dollar has hit a 14-year low against the Japanese yen with low interest rates in the US making the greenback less attractive to investors.

The dollar fell to 86.28 yen in early Thursday trading, it’s lowest level since 1995, before recovering to 86.61. The US has indicated it is unconcerned about the dollar’s slide, and will not intervene to strengthen it.

Many traders are swapping dollar holdings for gold as a safer investment in the current economic climate. The price of gold hit a fresh record high of $1,194.9 per ounce on Thursday, before falling back slightly to $1,182.4.

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