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« India hikes mining royalty | Main | What if China, Russia Succeed in Going off the Dollar? -- Alasdair Macleod »
Monday
Aug252014

Dollar marks biggest weekly gain against yen in a year

NEW YORK (MarketWatch) — The U.S. dollar moved higher on Friday after the top Federal Reserve official suggested the economy is moving toward the central bank’s objectives, pushing the greenback to its biggest weekly rise against the yen since July 2013.

In a speech at Jackson Hole on Friday, Fed Chairwoman Janet Yellen gave a nod to progress on the central bank’s dual mandates of full employment and stable inflation. She suggested the focus is now shifting toward the remaining elements of so-called labor market slack, which are tracked by a variety of indicators such as wage growth.


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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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