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Strategies & Market Trends : Fidelity Funds
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From: Julius Wong12/4/2005 8:36:40 AM
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Yen Drops for Third Week on View BOJ Will Keep Rates at Zero

Dec. 3 (Bloomberg) -- The yen dropped for a third straight week against the dollar, reaching the lowest since March 2003, on speculation the Bank of Japan will hold interest rates near zero as the Federal Reserve lifts its benchmark rate into next year.

The Japanese currency also fell to its lowest against the euro since the 12-nation currency was launched in 1999 after the European Central Bank raised its main rate a quarter-point to 2.25 percent on Dec. 1. The yen weakened against all 16 of the most actively traded currencies tracked by Bloomberg this week.

bloomberg.com
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