by pna
The
U.S. dollar advanced against the
yen on Thursday due to mounting expectations that the
Bank of Japan would take easing measures to boost the economy while
U.S. data outperformed predictions.
The
dollar reached a four-month high against the
yen during Thursday trading as investors increasingly speculated that the Bank of Japan would expand its asset-buying plans after its policy meeting on Oct. 30.
The yen retreated against all of its major counterparts, but analysts believe the yen could rebound if the central bank does not take action.
The dollar benefited from a series of statistics released on Thursday. The number of U.S. citizens initially applying for unemployment aid made a sharp downturn last week after jumping to a four-month high.
In addition, new orders for U.S. manufactured durable goods rose nearly 10 percent in September after posting the largest monthly decrease in more than three years in August.
The Federal Reserve on Wednesday maintained its easing policy as expected, but investors believe the next Fed meeting on Dec. 12 would be more significant as the Fed would decide whether it would keep the current bond-buying program.
Meanwhile, the British pound strengthened after the GDP data of UK showed that the economy began to grow, but some argue that the growth was largely contributed by Olympic Games effect and may be not sustainable.
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