Yen Gains With Dollar Weakening on Wage Growth; Aussie Advances
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The yen rose toward its highest level since December versus the dollar as concern lingered that the U.S. labor market is too weak for the Federal Reserve to start raising interest rates.
The dollar retreated from near multi-year highs against the Aussie and euro as traders weighed a U.S. jobs report showing incomes declined in December. The euro touched a nine-year low versus the greenback last week and today slipped to its weakest since October against the yen as an official said European Central Bank policy makers met to discuss government-bond purchases. ECB President Mario Draghi is likely to unveil quantitative easing-type policies at a Jan. 22 policy meeting, UBS AG’s Chairman Axel Weber said today.