The U.S. dollar fell to the mid-101 yen level Friday morning in
At noon, the dollar fetched
The euro was quoted at
The dollar drifted lower against the yen in the morning, inheriting its soft tone seen overnight in
"The U.S. consumer spending data was very weak," said
"Given the sharp downward revision to the U.S. GDP, there had been some hope that we may see a good reading for the second quarter in reaction to the early fall. But the latest data dashed such hope," he said. "At least, U.S. Treasury yields are unlikely to rise so easily."
On the domestic front, the Japanese government said in the morning
The dollar-yen pair did not show an immediate reaction to the data as it was largely in line with market expectations, dealers said.
The yen also gained ground against the euro in the morning, in line with its strength against the dollar.
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