NEW YORK (AP) — The Bank of Japan's intervention to lower the yen's value against the dollar is having repercussions beyond the U.S. currency, as the euro pushed to a five-week high Thursday.
Analysts said that Japan's defense of its currency, its first intervention in six years, has made the euro a favorite bet with traders against the dollar.
Alan Ruskin, a currency strategist at Deutsche Bank, said the Japanese intervention, which curbed the yen's rise, has encouraged "negative dollar sentiment to be expressed in the euro."
Speculation that the Federal Reserve will begin buying U.S. government bonds to further drive down interest rates has weighed on the dollar this …
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