(Bloomberg) -- The dollar was little changed versus
the yen and euro before a speech on inflation by Federal Reserve
Chairman Ben. S. Bernanke tomorrow when he may say rising prices
are still a concern.
The Fed said a moderation in inflation hasn't been
``convincingly demonstrated'' at a June 28 meeting when it left
interest rates at 5.25 percent. The yen might decline as the Bank
of Japan is forecast to leave borrowing costs at 0.5 percent this
week, the lowest among major economies. That may encourage carry
trades in which investors seek higher yielding returns overseas.
Read more at Bloomberg Currencies News
the yen and euro before a speech on inflation by Federal Reserve
Chairman Ben. S. Bernanke tomorrow when he may say rising prices
are still a concern.
The Fed said a moderation in inflation hasn't been
``convincingly demonstrated'' at a June 28 meeting when it left
interest rates at 5.25 percent. The yen might decline as the Bank
of Japan is forecast to leave borrowing costs at 0.5 percent this
week, the lowest among major economies. That may encourage carry
trades in which investors seek higher yielding returns overseas.
Read more at Bloomberg Currencies News
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