Dollar, Little Changed, May Fall on U.S. Manufacturers Pressure
By Mari Murayama and Kanako Chiba
quote.bloomberg.com
Tokyo, March 15 (Bloomberg) -- The dollar, little changed, may fall for a second day after U.S. manufacturers argued it's too strong and is hurting their ability to sell goods abroad, pressuring the government to guide the currency lower.
The dollar bought 129.08 yen, versus 129.16 in late New York yesterday. Against the euro, it hovered at 88.38 U.S. cents, little changed from trading in New York, where it reached 88.44 cents, its weakest level since Jan. 23.
``Speculation the U.S. may change its strong-dollar policy to protect manufacturers is working against the currency,'' said Keisuke Kitao, a foreign exchange manager at Bank of Tokyo- Mitsubishi Ltd.
The National Association of Manufacturers made its complaint yesterday. ``The overvalued dollar has led to a substantial reduction in exports of U.S. manufactured goods, and a consequent loss of manufacturing jobs, for the last year and a half,'' Jerry Jasinowski, the group's president, said in a statement. |
