Tokyo, Oct. 1 (Jiji Press)–The dollar fell to two-week lows near 147 yen in Tokyo on Wednesday, following the partial shutdown of the U.S. government. At 5 p.m., the greenback stood at 147.11-13 yen, down from 148.06-06 yen at the same time Tuesday. The government shutdown prompted selling of the dollar, U.S. stocks and bonds, while boosting the safe-haven appeal of the yen, market sources said. “The government shutdown is negative for the U.S. economy, so expectations of an October rate cut by the Federal Reserve are growing,” a Japanese bank official said. END [Copyright The Jiji Press, Ltd.]
Dollar Hits 2-Week Lows near 147 Yen over U.S. Govt Shutdown
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