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26 April 2017 21:48 (South Africa)

Dollar hits 14-year lows against yen

The US dollar fell to 86.28 yen in early Thursday trading, its lowest level since 1995, before recovering to ¥86.61. Low US interest rates are making the currency less attractive to investors, but the Obama administration has said it’s not concerned about the dollar's slide and will not intervene to strengthen it. With gold trading at record highs many traders are swapping dollar holdings for the yellow metal as the world economy struggles to shrug off global recession. Gold hit a fresh record high of $1,194.9 an ounce on Thursday, before falling back to $1,182.4.  Analysts say the yen will continue to trade at these levels unless the Japanese government intervenes, but that seems unlikely at this time. Read more: BBC

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