Sunday, August 20, 2017 2:56:30 PM - Markets closed
VN-INDEX 768.97 +1.38/+0.18%
HNX-INDEX 100.83 +0.34/+0.34%
UPCOM-INDEX 54.51 -0.13/-0.23%
Dollar/yen off five-month low but U.S.-Japan trade issues limit rise
Source: Reuters - 4/18/2017 9:53:54 AM
 (0 ratings. You must sign in to rate.)
The dollar pulled away from five-month lows versus the yen on Tuesday, with comments from U.S. Treasury Secretary Steven Mnuchin and higher debt yields giving the bruised greenback some breathing space.

Still, the dollar was capped by nervousness about Tuesday's economic dialogue between the United States and Japan. Lingering worries about North Korea and the coming French presidential elections also kept a lid on the dollar against the safe-haven yen.

Mnuchin told the Financial Times that he agreed with U.S. President Donald Trump's view that the dollar's strength in the short term was hurting exports, but that he saw the currency's strength over the long term as a positive.

Mnuchin's comments were seen countering those of the president, who last week said the dollar was too strong, sending it reeling.

The dollar added to overnight gains and was up 0.1 percent at 109.040 yen after rising briefly to 109.225. It had sunk to a five-month trough of 108.130 earlier on Monday on worries about tensions in the Korean Peninsula.

At the U.S.-Japan economic dialogue, there are concerns Washington could take a tough trade stance against Tokyo, which has been wary of Trump's complaints that Japan and other countries have artificially weakened their currencies.

"For dollar/yen, the main focus will be on what kind of pressure the United States could apply on Japan as basically U.S. trade policy is linked with a policy for a weaker dollar," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.

"The yen cannot simply continue weakening along with higher stocks under such conditions," he said.

Washington's standoff with Pyongyang was seen adding a new dimension to U.S.-Japan economic talks, as the United States has sought support from China in confronting North Korea.

"Trump appears to have made a concession regarding China, a key player in the North Korean situation," said Makoto Noji, senior strategist at SMBC Nikko Securities, referring to last week's U.S. Treasury's semi-annual currency report in which the Trump administration backed away from a key campaign promise and did not label China a currency manipulator.

"But at the same time, for the sake of his supporters, Trump has to stick with his pledge to tackle trade imbalances, and this raises the risk of his administration getting tough with Japan," Noji said.

The dollar index, measuring it against a basket of major currencies, was flat at 100.290 .DXY after popping up to 100.400 earlier in the session.

The euro was a shade higher at $1.0652 EUR=, having seen limited movement on Monday when many European markets were shut for the Easter holiday.

The Australian dollar dipped 0.3 percent to $0.7566 AUD=D4. The Aussie nudged up above $0.7600 to a two-week high on Monday on upbeat Chinese growth data. However, weaker prices of iron ore, Australia's key export, have prevented the currency from staying above that threshold.

Treasury yields rose from five-month lows on Monday as Wall Street shares gained, reducing demand for safe-haven debt.
Newer News
28/04 Dollar index edges up, but poised for losing month
28/04 Oil prices face second weekly loss as oversupply lingers
28/04 Asian stocks tick up, euro subdued as ECB maintains easing bias
26/04 Oil falls on bulging U.S. crude inventories, record global supplies
26/04 Asian stocks hover near two-year highs on U.S. optimism, euro steady
25/04 Euro pauses after rally, Canadian dollar hit by U.S. duties on lumber
25/04 Asia stocks, euro steady as markets pause for breath after French election
21/04 Oil markets remain cautious on record supplies
21/04 Asian stocks climb, euro surrenders gains as French election jitters return
20/04 Dollar edges away from recent lows with French vote in focus
Older News
18/04 Oil prices mixed after U.S. production seen rising
18/04 Asia stocks slip amid North Korea concerns, dollar up on Mnuchin comments
14/04 Asian shares, Korean won head south on geopolitical worries
13/04 Dollar slumps broadly after Trump says currency 'getting too strong'
13/04 OPEC sees rivals' oil output rising as it over-delivers on cuts
13/04 Trump comments, North Korea fears sink dollar, bond yields, stocks choppy
07/04 Dollar slips vs yen after U.S. launches missile strike on Syria
31/03 IEA says oil prices will not jump sharply, despite OPEC supply cuts
31/03 Dollar edges up, on track for weekly gains
31/03 Asia stocks mixed after strong Wall Street, dollar gains on U.S. data
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:01:34 PM
VN-INDEX 768.97 +1.38/+0.18%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.