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Euro gains as dollar rally fades; yen rebounds


Wednesday, 8 August 2018 15:18 WIB

Indeks Dolar Yen Euro


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The euro rose above $1.16 on Wednesday as the dollar's recent rally ran out of steam, and traders said solid data out of China had calmed investor nerves about recent Sino-U.S. trade tensions, hurting demand for the dollar.

The dollar has weakened since hitting a three-week high on Monday, when the prospect of a full-blown trade war increased demand for the U.S. currency. Traders said the dollar needed a fresh impetus or an escalation in trade tensions to justify a move higher.

Marinov was referring to the People's Bank of China's imposing a reserve requirement on forex forwards to help stabilise the plummeting yuan.

The Chinese currency has since recovered some of its losses and traded up 0.1 percent at 6.8201 in offshore markets on Wednesday, away from 6.9125 lows hit last week.

The euro rose 0.2 percent to $1.1618, up from Monday's low of $1.1530.

The dollar index fell 0.2 percent to 95.036.

Source : Reuters


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