The dollar and yen headed for weekly declines in Online Trading Forex

The dollar and yen headed for weekly declines in Online Trading Forex

The dollar and yen headed for weekly declines in Online Trading Forex against most major counterparts as Asian stocks climbed and speculation the global recovery is gaining traction spurred demand for higher-yielding assets.

The greenback traded near a nine-month low versus the euro before reports forecast to show European retail sales rose and U.S. payrolls gained for the first time since May.

The dollar traded at $1.4212 per euro at 12:01 p.m. in Tokyo from $1.4207 in New York yesterday, when it fell to $1.4282, the lowest level since Jan. 20. The yen was at 114.79 per euro from 114.71 yesterday, after falling as much as 0.3 percent. It bought 80.77 per dollar from 80.75.

New Zealand’s dollar was near the strongest since April 2008 as traders added to bets policy makers will raise interest rates.

The yen pared losses after the Bank of Japan kept rates unchanged and refrained from expanding its asset-purchase programs.

New Zealand’s dollar was at 79.38 U.S. cents from 79.45 cents yesterday, when it climbed to 79.76 cents, the highest since April 2008.