Euro up against yen and dollar

Published: 18 Nov at 9 AM Tags: Euro, Dollar,

The yen is hovering near its lowest levels in four years against the euro. The single currency is buying 135.26 yen, which is close to a peak of 135.52 yen achieved on 22 October. The dollar is also up to its highest level against the Japanese currency in two months and was buying 100.22 yen on Friday.

The Bank of Japan is pushing ahead with an aggressive monetary policy it hopes will bring the third biggest economy on the planet out of the doldrums. A policy meeting at the BoJ is slated for later in the week and most analysts expect confirmation that an ultra loose policy will be maintained.

Analysts are also watching the Federal Reserve and minutes for the meeting held at the end of October due to be released on Wednesday. Last week, Fed Chairman elect, Janet Yellen, made comments that indicate the central bank will be keeping its stimulus programme in place for the time being.

Key retail sales figures are also due out on Wednesday. The Fed has said it will not scale back stimulus until there is proof that the US economy is firmly back on track. This has caused uncertainty to surround the greenback and allowed the euro to rally.

The euro was last trading up at $1.3492.