FOREX reports show the dollar was down 1.2 percent at the 98.07 yen, pulling further away from a four year high touched on April 11th.
* BOJ holds rates, Japanese inflation weak
* U.S. Q1 GDP accelerates but misses expectations
NEW YORK, April 26 (Reuters) - The dollar fell against the yen on Friday, retreating further from a four-year high after the Bank of Japan left policy unchanged and after data showed U.S. economic growth expanded in the first quarter more slowly than economists had projected.
Gross domestic product expanded at a 2.5 percent annual rate, the Commerce Department said on Friday, after growth nearly stalled at 0.4 percent in the fourth quarter. The increase, however, missed economists' expectations for a 3.0 percent pace.
Intesa Sanpaolo's Jamaleh said the dollar could be stuck in a range between 95 and 100 yen for the next few weeks. She expected it would eventually break 100 but said gains would be limited, keeping it below 105 yen.
The euro rose 0.1 percent to $1.3024 but was still near a near-three-week low touched on Wednesday, with traders reporting selling by a hedge fund.
.............................................
~ 0 comments: ~
~ Post a Comment ~