By Kosuke Goto
July 1 (Bloomberg) -- The yen rose against the dollar as a quarterly Tankan survey showed sentiment among large manufacturers fell less than economists estimated.
The yen traded at 106.06 per dollar as of 8:52 a.m. in Tokyo from 106.21 in New York yesterday, when it climbed to 104.99, the highest since June 9. The currency was also at 167.16 per euro from 167.32 yesterday, when it rose to 166.08, the strongest level since June 16. The dollar traded at $1.5759 per euro from $1.5755.
The Tankan index of manufacturer sentiment slid to 5 points in June from 11 in March, a third quarterly decline, the Bank of Japan said today in Tokyo. The median estimate of 32 economists surveyed by Bloomberg was for a drop to 3 points.
To contact the reporter on this story: Kosuke Goto in Tokyo at kgoto2@bloomberg.net
Last Updated: June 30, 2008 19:55 EDT
Tuesday, July 1, 2008
Yen Rises as Tankan Survey Falls Less Than Economists Expected
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