Asian Session – US dollar extends gains for a third day
October 10, 2013 6:35 am
The US dollar extended gains against the yen, rising for the third day as markets sentiment has improved for the currency.
Investors are optimistic that a deal will be reached in the US Congress to avoid a default by the government when the debt ceiling is reached on October 17.
The nomination of Janet Yellen as new Fed Chief yesterday was also cheered by the markets.
In Asia markets, the Nikkei stock index rose, leading to the yen to fall, since the two usually have an inverse relationship. The yen declined 0.4 percent to 97.75 per dollar. Against the euro, yen slipped to 131.95.
As the dollar strengthened, gold fell to around $1,305 an ounce.
Euro fell back again in Asia, to find support at $1.3490.
Sterling revisited Wednesday’s lows and fell to $1.5913. Focus turns to the Bank of England’s policy announcement at 1100 GMT.
The Australian dollar suffered losses after disappointing data which showed fewer than expected jobs were added to the Australian economy in September. Employers created 9,100 jobs, fewer than the 15,000 gain expected.
The US dollar extended gains against the yen, rising for the third day as markets sentiment has improved for the currency.
Investors are optimistic that a deal will be reached in the US Congress to avoid a default by the government when the debt ceiling is reached on October 17.
The nomination of Janet Yellen as new Fed Chief yesterday was also cheered by the markets.
In Asia markets, the Nikkei stock index rose, leading to the yen to fall, since the two usually have an inverse relationship. The yen declined 0.4 percent to 97.75 per dollar. Against the euro, yen slipped to 131.95.
As the dollar strengthened, gold fell to around $1,305 an ounce.
Euro fell back again in Asia, to find support at $1.3490.
Sterling revisited Wednesday’s lows and fell to $1.5913. Focus turns to the Bank of England’s policy announcement at 1100 GMT.
The Australian dollar suffered losses after disappointing data which showed fewer than expected jobs were added to the Australian economy in September. Employers created 9,100 jobs, fewer than the 15,000 gain expected.
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