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DOLLAR TAKES A DIP AGAINST THE YEN

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DOLLAR TAKES A DIP AGAINST THE YEN

Oct 2 2014, 10.13am GMT

Stock.com

The Asian yen is the first, out of a bundle of currencies who have suffered against the dollar recently, to gain a little on the greenback.

The dollar has been persistently high and the yen has been losing out. However, from the yen trading at Y109.54 on 29 September, the weakest it had been for six years, the minor swing back saw the yen crawl up as the dollar fell in response to factors affecting the U.S. These included the low readings for U.S manufacturing, down to 56.6 from 59.0 yesterday.

As markets closed in New York, the Dow Jones Industrial Average was down -238.19 to close at $16,804.71, having slightly recovered from the day’s low of $15,044.71. However, the DJIA was also down -238.19 and the Nasdaq -71.31.

The ebola health scare is attracting some of the blame for the plunge in stock prices as traders run from the U.S currency and find solace in gold, bonds and the safe yen, even though Asian markets were also affected by the troubles still brewing in Hong Kong following their two-day holiday and larger crowds of protesters in the streets.

OVERNIGHT MARKETS

Asian markets

Nikkei 225 down -301.01 (-1.87%) at 15,781

Topix down -29.92 (-2.27%) at 1,288

Hang Seng down -296.23 (-1.28%) at 22,933

US markets

S&P 500 down -26.13 (-1.32%) at 1,946

DJIA down -238.19 (-1.40%) at 16,805

Nasdaq down -71.31 (-1.59%) at 4,422

European markets

Eurofirst 300 down -12.45 (-0.90%) at 1,368

FTSE100 down -65.20 (-0.98%) at 6,558

CAC 40 down -50.97 (-1.15%) at 4,365

Dax down -92.27 (-0.97%) at 9,382

Currencies

€/$ 1.27 (1.26)

$/¥ 108.57 (108.87)

£/$ 1.62 (1.62)

€/£ 0.7797 (0.7798)

 

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