AFP, Tokyo :
The yen edged up against the dollar Wednesday as a recent sell-off in the unit over the past month ran out of steam following mixed US economic data, while Japan’s top central banker raised concerns about its weakness.
In Tokyo, the greenback weakened to 117.81 yen from 117.97 yen in New York.
The euro was also lower at $1.2472 and 146.94 yen compared with $1.2473 and 147.18 yen in the US, where it had rallied on news that Germany had narrowly averted falling onto recession.
The US Commerce Department said Tuesday that third-quarter growth came in at 3.9 percent, up from a previous estimate of 3.5 percent and easily beating expectations for 3.2 percent.
The figures are the latest showing the world’s number one economy is on a healthy recovery track, while those in the eurozone and Japan struggle. However, the result was offset by figures showing consumer confidence dipped in November from October.
On Tuesday, BoJ head Haruhiko Kuroda said policymakers were wary of the impact of the yen’s sharp decline on the economy, after it sunk to multi-year lows in reaction to the bank’s ramped-up stimulus announced on October 31.
The yen edged up against the dollar Wednesday as a recent sell-off in the unit over the past month ran out of steam following mixed US economic data, while Japan’s top central banker raised concerns about its weakness.
In Tokyo, the greenback weakened to 117.81 yen from 117.97 yen in New York.
The euro was also lower at $1.2472 and 146.94 yen compared with $1.2473 and 147.18 yen in the US, where it had rallied on news that Germany had narrowly averted falling onto recession.
The US Commerce Department said Tuesday that third-quarter growth came in at 3.9 percent, up from a previous estimate of 3.5 percent and easily beating expectations for 3.2 percent.
The figures are the latest showing the world’s number one economy is on a healthy recovery track, while those in the eurozone and Japan struggle. However, the result was offset by figures showing consumer confidence dipped in November from October.
On Tuesday, BoJ head Haruhiko Kuroda said policymakers were wary of the impact of the yen’s sharp decline on the economy, after it sunk to multi-year lows in reaction to the bank’s ramped-up stimulus announced on October 31.
