Checkout
Cart: $0.00 - (0 items )

Greenback edges lower in Asia after dropping against yen, euro

After dropping markedly on Thursday against the yen and euro, the greenback was edging lower in Asia trading on Friday. The dollar index was off another 0.3 per cent at 91.434, the lowest level since January 2015.

Japan’s yen was level after the previous session’s gains at ¥108.43 per dollar and, in spite of a downward revision to Q2 gross domestic product, showed little sign of losing its renewed haven status in the wake of North Korea’s latest nuclear weapons test at the weekend.

The Australian dollar holding on to Thursday’s gains, up 0.1 per cent at $0.8053, while China’s onshore renminbi exchange rate was likewise steady at Rmb6.4814 after rising to a 16 month high during the previous session.

The euro strengthened another 0.1 per cent to $1.2025, having firmed 0.9 per cent on Thursday following a meeting of the European Central Bank’s governing council.

Australia was the leader among sovereign bonds in the region after comments at Thursday’s ECB meeting suggested the bank would unveil plans to scale back its quantitative easing programme next month. Yield on the 10-year Australian government bond, which moves inversely to price, was down 7 basis points at 2.561 per cent, the lowest level since June.

Yield on US Treasuries was up 1 bp at 2.044 per cent after touching the lowest level since November’s US presidential election during the Thursday session.