Dollar mixed amid slumping stock markets
The dollar was mixed in Asian trade on Friday as traders kept a nervous watch on fresh falls in global share prices, while waiting anxiously for key US jobs data, dealers said.
By Agencies |
TOKYO: The dollar was mixed in Asian trade on Friday as traders kept a nervous watch on fresh falls in global share prices, while waiting anxiously for key US jobs data, dealers said.
The dollar eased to 114.76 yen in later Tokyo morning trade from 114.87 in New York late Thursday.
The Japanese currency tends to benefit from any rush to safe havens as it is often used by speculators to fund risky investments.
The euro fell to $1.4428 from 1.4459, easing further back from Wednesday's record high of 1.4504. The single European currency gained to 165.60 yen after 165.18.
Dealers said another slump overnight on Wall Street was the main focus of the currency market, although recent robust data including brisk third-quarter economic growth had provided some comfort to participants.
"We're monitoring a tug of war" between brisk economic data and slumping share prices, said Kosuke Hanao, forex sales manager at HSBC.
"Share prices tumbled not because of fundamentals but because of worries over a credit crunch," noted Hanao.
Asian stocks also fell heavily on Friday in the wake of sharp losses in New York on Thursday .
The dollar eased to 114.76 yen in later Tokyo morning trade from 114.87 in New York late Thursday.
The Japanese currency tends to benefit from any rush to safe havens as it is often used by speculators to fund risky investments.
The euro fell to $1.4428 from 1.4459, easing further back from Wednesday's record high of 1.4504. The single European currency gained to 165.60 yen after 165.18.
Dealers said another slump overnight on Wall Street was the main focus of the currency market, although recent robust data including brisk third-quarter economic growth had provided some comfort to participants.
"We're monitoring a tug of war" between brisk economic data and slumping share prices, said Kosuke Hanao, forex sales manager at HSBC.
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"Share prices tumbled not because of fundamentals but because of worries over a credit crunch," noted Hanao.
Asian stocks also fell heavily on Friday in the wake of sharp losses in New York on Thursday .
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