Saturday, March 05, 2005
dollar drops against the yen
The dollar dropped for a third straight week against the as economic numbers relaesed yesterday showed that job growth was not active in the U.S. Speculation had 300,000 jobs would be added to the U.S. economy, but that number fell short, coming in at 262,000. The jobless rate rose to 5.4 from January's 5.2% The numbers were just not there to keep supporting the dollar's bullish tone against the yen. The dollar finished at 104.78 yen, down 0.4% this week. Also helping the yen was speculation that Japan's economy is pulling from recession. This will help the foreign stock investment picture. Japan's Nikkei 225 Stock Average had its best week this year, rising 1.8 percent to an eight-month high.