Investing.com - The dollar was trading at six-month highs against the yen on Thursday, while the euro was close to one month highs against the dollar in thin trade, with U.S. markets closed for the Thanksgiving Day holiday.
USD/JPY edged up 0.06% to 102.21, the highest level since May 29.
The yen remained broadly lower amid expectations that the Bank of Japan will expand its monetary stimulus program in the coming months in order to meet its target of 2% inflation by 2015.
On Wednesday, BoJ board member Sayuri Shirai raised doubts over whether the inflation target can be met because of downside risks to growth, adding that the bank was open to taking further steps if growth slows.
Elsewhere, EUR/USD was up 0.21% to 1.3606, the highest level since October 31.
The euro found support after preliminary data showed that the annual rate of inflation in Germany accelerated to 1.3% in November, in line with forecasts, from 1.2% in October.
The pound hit 27-month highs against the dollar, with GBP/USD rising 0.39% to 1.6349, the highest since August 2011.
Sterling strengthened after the Bank of England said Thursday it was going to scale back the Funding for Lending Scheme, which was launched last year to boost mortgage lending, amid concerns over a property bubble in the U.K.
The dollar was lower against the Swiss franc, with USD/CHF slipping 0.21% to 0.9055.
Data released on Thursday showed that Switzerland’s gross domestic product expanded by 0.5% in the third quarter and 1.9% year-over-year. Economists had expected quarterly growth of 0.4% and annual growth of 1.7%.
The greenback was mixed against the Australian, New Zealand and Canadian dollars, with AUD/USD rising 0.16% to 0.9094, NZD/USD down 0.33% to 0.8121 and USD/CAD dipping 0.05% to 1.0588.
The Canadian dollar showed little reaction after data showed that the country’s current account deficit narrowed to CAD15.5 billion from a deficit of CAD15.9 billion in the previous quarter. Economists had forecast a deficit of CAD14 billion.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.19% to 80.58.
USD/JPY edged up 0.06% to 102.21, the highest level since May 29.
The yen remained broadly lower amid expectations that the Bank of Japan will expand its monetary stimulus program in the coming months in order to meet its target of 2% inflation by 2015.
On Wednesday, BoJ board member Sayuri Shirai raised doubts over whether the inflation target can be met because of downside risks to growth, adding that the bank was open to taking further steps if growth slows.
Elsewhere, EUR/USD was up 0.21% to 1.3606, the highest level since October 31.
The euro found support after preliminary data showed that the annual rate of inflation in Germany accelerated to 1.3% in November, in line with forecasts, from 1.2% in October.
The pound hit 27-month highs against the dollar, with GBP/USD rising 0.39% to 1.6349, the highest since August 2011.
Sterling strengthened after the Bank of England said Thursday it was going to scale back the Funding for Lending Scheme, which was launched last year to boost mortgage lending, amid concerns over a property bubble in the U.K.
The dollar was lower against the Swiss franc, with USD/CHF slipping 0.21% to 0.9055.
Data released on Thursday showed that Switzerland’s gross domestic product expanded by 0.5% in the third quarter and 1.9% year-over-year. Economists had expected quarterly growth of 0.4% and annual growth of 1.7%.
The greenback was mixed against the Australian, New Zealand and Canadian dollars, with AUD/USD rising 0.16% to 0.9094, NZD/USD down 0.33% to 0.8121 and USD/CAD dipping 0.05% to 1.0588.
The Canadian dollar showed little reaction after data showed that the country’s current account deficit narrowed to CAD15.5 billion from a deficit of CAD15.9 billion in the previous quarter. Economists had forecast a deficit of CAD14 billion.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.19% to 80.58.