Dollar falls to a 3-month low against the yen, as Powell warns that Fed will slow down
Dollar falls to a 3-month low against the yen - On Thursday, the dollar fell to a three month low against the yen as traders listened to comments from Jerome Powell, Federal Reserve Chair, that suggested interest rate hikes could be slowed down "as soon" as December. The dollar-yen exchange rate is very sensitive to long-term U.S yield changes The overnight drop in equities to 3.6% was almost two months long. Powell stated at the Brookings Institution, Washington, that slowing down at this stage is a good option to balance the risk. He also said that inflation control "will require…