Dollar pushes above 105 yen on Japan stimulus hopes
The dollar Thursday pushed above 105 yen for the first time in three weeks.
The dollar was up 1.07% at 105.62 yen after a high of 105.75.
There is speculation of aggressive stimulus measures by Japan to reflate the economy.
Former Fed chief Ben Bernanke reportedly has floated the idea of Japan issuing perpetual bonds.
Japanese officials have ruled out using helicopter money, or flooding the market with yen.
The yen sank across the board on Thursday as the upbeat mood on global stock markets stretched into a sixth day and media reports stoked speculation the Bank of Japan could take steps to fund government spending directly.
Sterling made solid gains against the yen, the dollar and the euro ahead of a Bank of England meeting widely expected to cut interest rates in aid of offsetting the blow to the economy of last month's vote to leave the European Union.
Technical Aspect
Support at 95.20 and resistance at 96.80
Close above 96.80 will take it 97.50--97.90 and then to 98.60 else could test its support level of 95.20.
Looks weak below 95.20 break and sustain below 95.20 will take it to 93.60 marks in days to come.
