18th November 2013
The dollar has inched lower against the yen today (November 18th), easing from two-month highs despite speculation the Japanese government is set to intervene in currency markets.
Last week, the country's finance minister Taro Aso said it is important to retain the ability to step in and stem the yen's appreciation in forex trading markets.
His comments followed the release of data showing Japan's gross domestic product growth slowed by more than anticipated in the third quarter on an annual basis and contributed to further weakening of the currency.
However, the dollar's gains have been limited amid suggestions the Federal Reserve will look to maintain its quantitative easing programme for longer than previously expected.
Janet Yellen, who has been formally nominated to succeed Ben Bernanke as chair of the US central bank, said there are clear dangers to ending the stimulus before the country's economic recovery has strengthened further.
As of 10:30 GMT, the greenback was trading 0.25 per cent lower at 99.94 yen.
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