JPY trades nearly seven-week high against USD

Dhaka, Bangladesh (BBN) – The Japanese Yen (JPY) traded near a seven-week high against the US Dollar (USD) amid concerns that asset prices are overblown. JPY rose to 92.55 against the USD, the highest level since July 13.

Australia’s Dollar (AUD) traded near 84.19 US cents, close to the highest level this year against the Greenback on optimism that the nation’s central bank will shift its bias toward lifting interest rates at its meeting on Tuesday.

US Stocks fell on Monday after a 6.7 percent plunge in China’s main stock market sent a wave of selling around the world. The Dow Jones Industrial Average fell 0.5 percent to 9,496.28 while the NASDAQ Composite dropped 1 percent to 2,009.06, according to reports.

BBN/SS/SI/AD-01September09-1:07 pm (BST) 

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