Asian Stock Markets
The dollar inched up against the yen on Thursday as stocks bounced back
from a sell-off triggered by an escalating U.S.-China trade dispute.
The greenback was 0.15 percent higher at 106.930 yen JPY=, having pulled higher from a low of 105.990 set the previous day.
The yen, often sought in times of market turmoil and political tensions, had rallied as Wall Street shares initially tumbled on Wednesday after China’s swift move to impose retaliatory tariffs on U.S. goods.
But a comeback by U.S. equities helped the dollar bounce, as trade war concerns calmed somewhat after President Donald Trump’s economic the administration was in “negotiation” with China, and not engaged in a trade war.
The dollar extended gains as equities in the region followed Wall Street's lead, with Japan's Nikkei .N225 rising nearly 2 percent.
Against the Swiss currency, another perceived safe haven along with the yen, the dollar was little changed at 0.9609 franc CHF= after rising 0.2 percent overnight.
The euro nudged up 0.05 percent to $1.2284 EUR=, adding to the previous day's modest gains.
The common currency still remained within reach of a two-week low of $1.2254 plumbed on Tuesday after a survey showed the euro zone’s manufacturing boom stumbled for a third month in March as optimism waned and demand ebbed.
The dollar index against a basket of six major currencies was effectively flat at 90.123 .DXY.
The Australian dollar initially extended the previous day's surge, when it was lifted by better-than-expected domestic retail sales data, to reach a nine-day high of $0.7726 AUD=D4 before losing steam. The Aussie was last down 0.2 percent at $0.7701.
The greenback was 0.15 percent higher at 106.930 yen JPY=, having pulled higher from a low of 105.990 set the previous day.
The yen, often sought in times of market turmoil and political tensions, had rallied as Wall Street shares initially tumbled on Wednesday after China’s swift move to impose retaliatory tariffs on U.S. goods.
But a comeback by U.S. equities helped the dollar bounce, as trade war concerns calmed somewhat after President Donald Trump’s economic the administration was in “negotiation” with China, and not engaged in a trade war.
The dollar extended gains as equities in the region followed Wall Street's lead, with Japan's Nikkei .N225 rising nearly 2 percent.
Against the Swiss currency, another perceived safe haven along with the yen, the dollar was little changed at 0.9609 franc CHF= after rising 0.2 percent overnight.
The euro nudged up 0.05 percent to $1.2284 EUR=, adding to the previous day's modest gains.
The common currency still remained within reach of a two-week low of $1.2254 plumbed on Tuesday after a survey showed the euro zone’s manufacturing boom stumbled for a third month in March as optimism waned and demand ebbed.
The dollar index against a basket of six major currencies was effectively flat at 90.123 .DXY.
The Australian dollar initially extended the previous day's surge, when it was lifted by better-than-expected domestic retail sales data, to reach a nine-day high of $0.7726 AUD=D4 before losing steam. The Aussie was last down 0.2 percent at $0.7701.
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