European Session – Dollar pulls away from 2-week high versus yen, oil prices rebound as inventories drop
Posted on May 11, 2016 at 2:50 pm GMTThe US dollar reversed recent gains today, especially against the yen. The dollar reached a two-week high after being lifted by comments from Japan’s Finance Minister Taro Aso who said earlier this week that the Bank of Japan was ready to intervene in the markets in order to prevent further yen appreciation if necessary. The greenback reversed from the peak of 109.36 and accelerated its decline after breaking below the key 109 yen level. The pair was down 0.6% on [..]