FOREX-Dollar forges higher after volatile week, yen in spotlight

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Jun 17, 2007
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The dollar gained against the euro and yen on Monday after the most volatile week of trading in months for currency markets, as investors assessed policy and geopolitical developments. Ahead of the Bank of Japan's (BOJ) policy review on Friday, the market is focused on the yen, which traded at around 154.76 per dollar, a whisker away from last week's 34-year low of 154.79 and close enough to the 155-level that is next on traders' radars for possible intervention. "There will be a focus on the BOJ meeting, but it is too soon for them to alter policy, and the market gives a change in rates no chance at all," said Chris Weston, head of research at Pepperstone.
 
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