Dollar clenches breather after fall; still trembling on Ukraine tension
February 28, 2014 7:49 am
The US dollar remained steady versus the Japanese yen and the euro on Friday, after a surge in US equities supported investor appetite for risk and backed the currency recover some of the losses suffered earlier on geopolitical anxieties.
However, the dollar stayed on shaky ground as another possible outburst in tensions in Ukraine would aid conventional safe haven currencies like the yen and the Swiss franc and push the US unit to the back. The dollar was at ¥102.09 after reaching a low of ¥101.72 on Thursday due to worries over possible Russian intervention in Ukraine. Reaction was restricted to data showing the Japan’s core consumer prices increased 1.3% year after year in January, the eight consecutive gains.
Versus the dollar, the euro was slightly changed at $1.3707, after hitting a low of $1.3643 on Thursday. Market participants will be watching the euro zone data due today following the German data postulated the country’s annual inflation possibly dropped in February, denoting the potentiality of a lower euro zone number that would incur pressure on the ECB to decide.
The euro grasped ¥139.94, way below this week’s high over ¥141.00 touched on Monday. The dollar index, which traces the US dollar versus a basket of major counterparts, was somewhat changed at 80.282.
The New Zealand dollar reached a six-week high following a survey displayed domestic business confidence at a 20-year peak, underpinning strength in the nation’s economy.
The kiwi dollar rose 0.3% to $0.8397, its most since mid-January.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar remained steady versus the Japanese yen and the euro on Friday, after a surge in US equities supported investor appetite for risk and backed the currency recover some of the losses suffered earlier on geopolitical anxieties.
However, the dollar stayed on shaky ground as another possible outburst in tensions in Ukraine would aid conventional safe haven currencies like the yen and the Swiss franc and push the US unit to the back. The dollar was at ¥102.09 after reaching a low of ¥101.72 on Thursday due to worries over possible Russian intervention in Ukraine. Reaction was restricted to data showing the Japan’s core consumer prices increased 1.3% year after year in January, the eight consecutive gains.
Versus the dollar, the euro was slightly changed at $1.3707, after hitting a low of $1.3643 on Thursday. Market participants will be watching the euro zone data due today following the German data postulated the country’s annual inflation possibly dropped in February, denoting the potentiality of a lower euro zone number that would incur pressure on the ECB to decide.
The euro grasped ¥139.94, way below this week’s high over ¥141.00 touched on Monday. The dollar index, which traces the US dollar versus a basket of major counterparts, was somewhat changed at 80.282.
The New Zealand dollar reached a six-week high following a survey displayed domestic business confidence at a 20-year peak, underpinning strength in the nation’s economy.
The kiwi dollar rose 0.3% to $0.8397, its most since mid-January.
The material has been provided by InstaForex Company – www.instaforex.com
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