Dollar rebounds as data soothes investor nerves The dollar continued to rebound higher on Monday after recovering from its previous days’ losses on Friday as strong data from US restored confidence and prompted a recovery in equity markets and a rise in Treasury yields. The yen extended its losses for a third straight day amid speculation that Japan’s $1.2 trillion Government pension fund is moving closer to buying foreign assets. The greenback pulled further away from a five-week trough versus the yen. Data on Friday showed consumer sentiment was better than expected restoring faith in the economy and soothing investor nerves. Wall Street shares soared higher on Friday, with S&P up 1.30 percent and the Dow rose 1.60 percent. The Nikkei was up almost 4 percent on Monday. EUR/USD slipped to 1.2737 on Monday, after failing several times at the end of last week to surpass the 1.2840 level. US Treasury yields bounced back to 0.378 percent from a 17-month low of 0.244 percent. The Dollar Index rose to 85.209 from a three-week low of 84.472. The Aussie dollar rose on Monday after Chinese officials said the central bank was planning to inject funds in some lenders. AUD/USD was up to 0.8787. Good day
Posted on: Mon, 20 Oct 2014 07:36:39 +0000
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