Dollar strikes 6-week high against yen as risk-on mind-set returns; softens against other rivals

Friday, 13 April 2018 22:09 WIB

DOLLAR Yen EuroDolar ASDolar Australia,Poundsterling


The dollar gained against haven currencies on Friday, including reaching a six-week high against the Japanese yen, as caution over an imminent Western military intervention in Syria eased and anticipation for a solid round of U.S. corporate earnings helped support the U.S. unit.

Mixed trade against other major rivals, however, left the leading dollar index slightly lower on the day and on track for a roughly 0.5% drop for the week.

The dollar had advanced Thursday for the first time in five days, a sign that risk appetite had returned after a week in which flight-to-safety currencies, including the yen and the Swiss franc, flourished as U.S.-China trade tensions persisted and the possibility of a U.S.-led missile strike on Russia-backed Syria rippled through financial markets.

The ICE U.S. dollar index, which measures the buck against six rivals, was down less than 0.1% to 89.698, back in the red after Thursday’s gain snapped a four-session skid. The broader WSJ U.S. Dollar Index, which includes emerging-market currencies, was down 0.1% at 83.71.

The dollar rose against the Japanese yen buying ¥107.59 compared with ¥107.32 on Thursday.

The Swiss franc, another perceived safe-haven currency, was a touch weaker at 0.9614 per dollar compared with 0.9622 late Thursday.

The euro improved slightly to $1.2337 from $1.2327 late Thursday in New York.

Britain’s pound, meanwhile, edged higher to $1.4283 compared with $1.4227 Thursday, trading at its highest levels since early February.

Elsewhere, the Australian dollar, sensitive to shifts in risk sentiment, rose to US$0.7801 from US$0.7754 Thursday.

Source: Marketwatch




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