Greenback steadies against yen driven by US data
On Wedensday, during Asia trade, the greenback remained mostly passive against the Japanese yen, weighed by profit-taking notwithstadning an improvement market sentiment.
The dollar traded at ¥113.96 after getting to its two-week highest value of ¥114.18. The greenback traded a bit higher against the common currency, which dived from $1.0868 to $1.0866 late on Tuesday. Additionally, against the major Japanese currency, the euro grew to ¥123.85 from ¥123.72.
A typical measure of the evergreen buck several main currencies, the WSJ Dollar Index traded at 89.91, a 0.02% slump.
Overnight, the major American currency acquired traction, because stronger-than-expected American manufacturing news powered expectations that the Fed would like to boost rates later on this year. Meanwhile, the solid American shares performance came into Asian stocks revenues. The Nikkei Stock Average gained 4.1%, thus contributing to selling of the yen, traditionally considered to be a safe asset.
By the way, risk-off sentiment has most faded away and it’s early to assert that the market has become quite optimistic.