Published by
Reuters UK
Reuters UK
By Tom Westbrook SINGAPORE (Reuters) – The yen was headed for its worst week in two years on Friday, pummelled by Japan’s rising import costs and low interest rates, while commodity currencies were set for a second consecutive weekly gain on the dollar as export prices remain elevated. The euro has been slightly softer this week and was pinned at $1.1005 by concern that conflict in Ukraine will hurt Europe’s economy by raising energy and food costs. Australia is an exporter of both and rising prices have helped the local dollar to a second weekly rise of more than 1% in a row. The Aussie was l…