Dollar staggers against yen as risk appetite relents
February 17, 2014 9:47 am
The US dollar lost its soil versus the Japanese yen and other major peers on Monday, as latest weakness in Japan equities wounded investors’ risk appetite and disappointing US data agitated worries for a slowing economic recoup.
The dollar dropped to ¥101.56 from ¥101.81 last Friday, even as the Nikkei Average finished to end with a 0.6% profit on Monday. However, analysts also stipulated Japan’s central bank might take more aggressive moves on the back of disappointing economic figures in the 4th quarter, which might influence investors’ yearning for the yen. Japan’s 4th quarter GDP is much weaker also.
The dollar also edged lower versus other rivals as investors digested combined US economic data released recently, including a 0.3% fall in industrial production, unchanged consumer sentiment in February, and an unexpected drop of 0.4% in retail sales in January, which has ignited some concerns the US economic recovery is losing rage.
The ICE dollar index, which monitors the US unit against six other peers, slacked to 80.03 from 80.13 on Friday. Last week, the index missed 0.6%. The WSJ Dollar index, an alternate benchmark of the greenback’s strength versus a wider basket of rival currencies, plunged to 73.31, previously 73.41 on Friday. The British pound sloped to $1.6790, from $1.6748 last Friday, and the euro climbed to $1.3710, previously $1.3698.
The Australian dollar profited 90.52 U.S. cents, from 90.36 U.S. cents last Friday.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar lost its soil versus the Japanese yen and other major peers on Monday, as latest weakness in Japan equities wounded investors’ risk appetite and disappointing US data agitated worries for a slowing economic recoup.
The dollar dropped to ¥101.56 from ¥101.81 last Friday, even as the Nikkei Average finished to end with a 0.6% profit on Monday. However, analysts also stipulated Japan’s central bank might take more aggressive moves on the back of disappointing economic figures in the 4th quarter, which might influence investors’ yearning for the yen. Japan’s 4th quarter GDP is much weaker also.
The dollar also edged lower versus other rivals as investors digested combined US economic data released recently, including a 0.3% fall in industrial production, unchanged consumer sentiment in February, and an unexpected drop of 0.4% in retail sales in January, which has ignited some concerns the US economic recovery is losing rage.
The ICE dollar index, which monitors the US unit against six other peers, slacked to 80.03 from 80.13 on Friday. Last week, the index missed 0.6%. The WSJ Dollar index, an alternate benchmark of the greenback’s strength versus a wider basket of rival currencies, plunged to 73.31, previously 73.41 on Friday. The British pound sloped to $1.6790, from $1.6748 last Friday, and the euro climbed to $1.3710, previously $1.3698.
The Australian dollar profited 90.52 U.S. cents, from 90.36 U.S. cents last Friday.
The material has been provided by InstaForex Company – www.instaforex.com
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