The dollar is weaker against the yen ahead of a preliminary November reading on the University of Michigan's consumer sentiment report. Economists expect the index to be at 83.0 from a final October reading of 82.6. The reading could be closely watched because it comes at the end of a recent stretch that included a devastating storm in the northeast, the US presidential election and renewed worries about the fiscal cliff. Consumer sentiment could dictate the dollar's move for the rest of the day. The yen remains the preferred safe haven over the dollar right now, but strong consumer sentiment in the wake of recent uncertainties in the US could give the greenback a big lift against the yen. The dollar is at Y79.33 from Y79.47 late Thursday, according to EBS via CQG.
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