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The dollar continued its free-fall versus the resurgent yen and remained on the ropes versus other major currencies, unable to recoup any of its significant recent losses.
With US interest rates in decline, the dollar has plunged to its lowest level since February versus the yen. At the same time, speculation that the Federal Reserve will be slow to raise its key overnight rate has driven the dollar to a yearly low versus the higher-yielding euro.
Looking at today's economic, traders will focus on the Reuters/University of Michigan's first reading on their consumer sentiment index for September. Economists expect a reading of 67.8 after last month's final reading came in at 65.7. The report will be released at 9:55 a.m. ET.
The dollar dropped to 90.67 yen, moving closer to a 13-year low of 87.08, set back in January during the throes of the financial crisis.
Japan downwardly revised its economic growth for the second quarter, to reflect a steeper fall in domestic demand that was partly offset by a faster growth in exports, an official report showed Friday.
The Cabinet Office revised down the quarterly growth in the gross domestic product for the second quarter to 0.6% from 0.9% reported on August 17.
The dollar saw little movement versus the euro Friday morning, holding near yesterday's 8-month low of 1.4626.
The buck slipped to a new 5-week low versus the sterling, slipping to 1.6754, having lost nearly 7 cents in September.
The Office for National Statistics said UK output prices were down 0.4% in August, smaller than July's 1.3% annual decline and 0.5% fall expected by economists. Month-on-month, output prices rose 0.2% in August, the same as in July. The expected growth rate was 0.3%.
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