Dollar up amid growing speculation

Jakarta  – U.S. dollar was higher against the yen on Monday, amid growing speculation that Japanese authorities would conduct a new currency market intervention to curb the yen’s gains. During European morning trade, the greenback was higher against the yen, with USD/JPY gaining 0.20% to hit 76.69.

Earlier in the day, Japan's finance minister Yoshihiko Noda warned that the country would take decisive action against any speculative moves, saying We will watch markets even more closely than before to see whether there is any speculative activity. We won't rule out any measures and will take decisive action when necessary. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.03% to hit 74.02. [NSDQ/FR]