Dollar extends losses vs yen as confidence slumps

NEW YORK - The dollar extended losses against the yen on Friday after a report showing that U.S. consumer confidence dropped to its lowest in 26 years added to concerns about the economy.

By (Reuters)

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Published: Fri 11 Apr 2008, 8:56 PM

Last updated: Sun 5 Apr 2015, 11:38 AM

The dollar traded down 0.8 percent to 100.94 from 101.03 yen before the report. The euro was last up 0.5 percent at $1.5829, versus $1.5825 before the data.

The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence fell to 63.2 in April from 69.5 in March. This was well below economists’ median expectation of a reading of 69.0, according to a Reuters poll.

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