(Reuters) - The U.S. dollar is likely to continue weakening against developed market currencies after the U.S. Federal Reserve's shift to a new monetary policy strategy, a portfolio manager at bond giant PIMCO said on Tuesday. Erin Browne, managing director and portfolio manager at PIMCO, told the Reuters Global Markets Forum she had become more bearish on the U.S. dollar <.DXY> over the last three months.
In early trade the safe-haven Japanese yen rose to a one-week peak of 105.83 per dollar as investors looked to jittery equity markets to set the tone
The yen's recent appreciation comes as the world's third-largest economy has been bottoming out from its deepest postwar slump
About 85 per cent of traders are men, mostly in their 30s, 40s and 50s, according to estimates from Gaitame
The plan, if it does go ahead, may need to be revised, according to Kenichi Kurahashi, a Tokyo-based chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co
'The yen's roaring higher was a sign of just how widespread concern over the health of the global economy had become'
The dollar was firm at 109.260 yen , having fallen to as low as 109.120 overnight