The dollar extended losses versus the Japanese yen on Wednesday, receding from an earlier 4-1/2-year high. The dollar fell as low as 101.86 yen and last traded at 101.98 , down 0.4 percent on the day. It had reached 102.
Sterling rose on Wednesday after the Bank of England upped its growth forecasts, although Governor Mervyn King's suggestion that negative interest rates might be an option in future limited gains.
Sterling fell to a six-week low against a broadly firmer dollar on Wednesday, with investors cautious before British labour market data and the Bank of England's quarterly Inflation Report.
The euro pared losses versus the dollar on Tuesday after Fitch Ratings upgraded Greece's sovereign debt rating. Fitch raised Greece's rating to B- from CCC, with a stable outlook. The euro last traded at $1.
The dollar extended gains versus the yen on Tuesday, hitting a 4-1/2 year high. The dollar rose as high as 102.18 yen and last traded at 102.14, up 0.3 percent on the day, according to Reuters data.
Sterling fell to a near three-week low against the euro and the dollar on Tuesday on caution before Wednesday's Bank of England quarterly Inflation Report.
Sterling fell to a near three-week low against a firmer euro on Tuesday, with investors wary before Wednesday's Bank of England Inflation Report.
Sterling rose against the euro on Monday, after a senior European Central Bank policymaker said a cut in euro deposit rates to negative could be considered if the euro zone economy deteriorated.
Sterling rose to a near four-year high against a weaker yen on Friday, with the pound drawing support from pick-up in activity in the British economy that has lessened chances of more monetary easing in the near term.
The U.S. dollar extended gains against the Japanese yen on Thursday, reaching its highest level in over two weeks and edging closer to the key 100 yen mark. The dollar rose as high as 99.66 yen, the highest since April 24.
Dealers' desk forex news is provided by OzForex Pty Ltd.