The dollar traded near the lowest level since 1995 against the yen

The dollar traded near the lowest level since 1995 against the yen

The dollar traded near the lowest level since 1995 against the yen on growing speculation the Federal Reserve will debase its currency by stepping up purchases of government debt to support the economic recovery. Opportunities increased for Money Managers.

Australia’s dollar was set for an eight-week rally versus the greenback after reaching a record high yesterday before a report forecast to show the U.S. jobless rate rose for a second month.

The yen maintained three days of gains against the U.S. currency on expectations Japan will refrain from intervening before today’s meeting of Group-of-Seven industrialized nations.

The dollar stood at 82.36 yen at 11:07 a.m. in Tokyo from 82.41 yen in New York yesterday when it touched 82.11 yen, the lowest since May 1995. The euro traded at $1.3917, compared with $1.3926 yesterday when it reached $1.4029, the highest since Jan. 28. The euro was at 114.62 yen from 114.75 yen.

Australia’s currency fetched 98.06 U.S. cents from 98.25 cents yesterday when it touched 99.18, the most since exchange controls were ended in 1983.

U.S. private nonfarm payrolls rose by 75,000 in September after an increase of 67,000 in the previous month, according to the median forecast of 60 economists in a Bloomberg News survey before today’s report from the Labor Department. The jobless rate is expected to increase to 9.7 percent from 9.6 percent.