Dollar hits 2-1/2-year high against yen as Fed tapering seen on track

By Reuters

The dollar ticked up to a 2-1/2-year high versus the yen on Monday after a soft U.S. payrolls figure did little to alter market expectations that the U.S. Federal Reserve will announce it will start tapering its massive bond-buying next month. The U.S. economy created the fewest jobs in nine months in September, with nonfarm payrolls increasing 194,000, way below economists' forecast of 500,000. All told, the spectre of labour shortage firmly remains in place, keeping worries about inflation alive and giving the Federal Reserve justification to go ahead with reducing its stimulus it started last year for pandemic relief.

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Via:: Sports Headlines


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