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Dollar cedes gains versus yen

This article was originally published in Dairy Markets

The dollar ceded Wednesday's gains versus the yen in early trading on Thursday. The Federal Reserve Bank yesterday kept interest rates near zero, sending the greenback up to a one-week high of $1 = ¥90.79 as US shares rallied, but it retreated to trade at around $1 = ¥89.86 this morning. The dollar remained higher against other major currencies, with the euro losing 0.4% to €1 = $1.3112 and sterling 0.8% to £1 = $1.4133.

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