LONDON, Nov 25: The dollar hit a new 27-month high against the yen amid thin trading on Friday, with many US dealers away from their desks for a long Thanksgiving holiday weekend.
The euro fell to $1.1729 in late European trading from $1.1783 late on Thursday in London.
The dollar stood at 119.63 yen from 118.83 yen on Thursday, when US financial markets were closed.
The yen has been pushed lower as political pressure on the Bank of Japan not to hike interest rates too soon makes a move away from the current zero interest rate policy unlikely for the time being.
Trade was very thin, however, causing some exaggerated movements, analysts said.
“The market has thinned out this afternoon. The dollar has reached new highs against the yen in the last hour but there isn’t much in the way of news behind it,” said Bear Stearns analyst Steve Barrow.
Elsewhere, the pound fell against the dollar, erasing its earlier small gains after British third quarter economic growth was revised up to 1.7 per cent on an annual basis from 1.6 per cent in the previous estimate, although quarter-on-quarter growth remained unrevised at 0.4 per cent.
The euro was changing hands at 1.1729 dollars against 1.1783 late on Thursday in London, 140.31 yen (140.03), 0.6836 pound (0.6839) and 1.5468 Swiss francs (1.5502).
The dollar stood at 119.63 yen (118.83) and 1.3187 Swiss francs (1.3156).—AFP
