Dollar May Extend Drop Versus Yen as Fed Lowers Economic Growth Outlook

(Bloomberg) -- The dollar may fall a second
straight day against the yen on speculation signs of weakening
U.S. economic growth will reduce demand for the nation's assets.

The U.S. currency dropped yesterday after the Federal
Reserve lowered its forecasts for economic growth. U.S. reports
today are forecast to show the economic outlook is worsening,
while manufacturing slowed. A drop in stocks may push investors
to pare riskier assets funded by loans in Japan, adding to the
yen's advance.


Read more at Bloomberg Currencies News