Dollar firms, yen weakens to intervention-wary level

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Dollar firms, yen weakens to intervention-wary level
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Strong US GDP figures may exert upward pressure on yields, leading to fresh yen depreciation.

The Japanese yen fell to a fresh one-year low of 150.32 as authorities warned they were closely watching market moves.

US GDP data due later on Thursday is a key event risk for dollar/yen, according to Carol Kong, currency strategist at Commonwealth Bank of Australia, who said a strong report may pressure US yields higher and result in the yen testing fresh lows. The New Zealand dollar also touched an 11-month low of US$0.5780 and was last down 0.22% at US$0.5788.

The euro was little changed at US$1.0562 ahead of a policy decision from the European Central Bank later in the day.

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