Dollar hits one-month high vs. yen Greenback gains on weak Japanese inflation report; Treasurys lackluster as Bernanke stays mum on rate outlook. NEW YORK (CNNMoney.com) -- The dollar touched a one-month high against the yen Friday after weak inflation numbers in Japan dashed hopes the Japanese central bank would continue raising interest rates. Bonds edged slightly higher. The dollar bought ¥117.32, up from ¥116.53 late Thursday. The euro bought $1.2755, down from $1.2796 in the previous session. Japan's core consumer price index were tame, bolstering the expectation that the Bank of Japan will take its time with rate hikes. The Japanese central bank raised rates for the first time in six years in July. Central bank policy-makers gathered in Jackson Hole in Wyoming Friday to kick off a two-day discussion on globalization. Federal Reserve Chairman Ben Bernanke gave a speech on economic integration, but his remarks did not cover Fed policy or the current interest rate outlook. With no major economic reports and no market-moving comments from Bernanke, bond prices edged slightly higher. The benchmark 10-year Treasury note added 5/32, or $1.56 on a $1,000 note, to yield 4.79 percent, down from 4.81 percent Thursday. Bond prices and yields move in opposite directions. The 30-year bond added 6/32, or $1.87 cents on a $1,000 note, to yield 4.93 percent, down from 4.94 percent in the previous session. The five-year note edged higher three ticks, yielding 4.75 percent. The two-year note gained one tick, yielding 4.86 percent. -- from staff and wire reports |
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