The dollar and the yen have both fallen during forex trading today (February 26th), as investors turned their attention to higher-yielding assets amid hope that the global economy is showing signs of recovery.
Bloomberg reports that the greenback was down to $1.3578 per euro at 06:42 GMT in London, having fallen against 14 of its 16 global counterparts.
The yen dropped to 89.32 against the dollar and 121.30 versus the euro, as demand for other currencies was boosted by increases on the Asian stock markets and news that the Reserve Bank of Australia saw loans offered by banks jump 0.4 per cent in January.
Barclays' Masafumi Yamamoto observed that this will cause the Australian dollar to "gain versus the dollar and the yen".
The pound is another currency that has fallen in value this week, dipping to a nine-month low against the dollar due to concerns that the recovery of the UK's economic is not progressing at the rate than had been forecast.
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