Dollar Climbs Against Yen on Clinton's First Debate
Selasa, 27 September 2016 - 18:58 WIB
Dollar Climbs Against Yen on Clinton's First Debate
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TOKYO - Dollar rose on anticipation that Democratic Party candidate Hillary Clinton will become the next US president, in Tokyo trading on Tuesday, but it then lost steam after approaching ¥101.
At 5 pm, it stood at ¥100.53-54, down from ¥100.65-69 at the same time Monday. The euro was at $1.1248-1248, up from $1.1230-1234, and at ¥113.08-09, up from ¥112.99-113.00.
The greenback sank to levels close to ¥100 in the morning as the stock market opened with hefty losses. But it stayed above ¥100 and traders moved to cover short positions, lifting the dollar to around ¥100.80 before noon.
US Democratic presidential candidate Hillary Clinton’s apparent defeat of Republican rival Donald Trump in their first TV debate prompted short covering in the dollar, a Japanese bank official said.
“For now, Trump risk retreated,” an official at a currency margin trading service provider said.
In the afternoon, the dollar extended its rally and almost hit ¥101 as Japanese equities entered positive territory and finished considerably higher.
However, the dollar then fell back to levels around ¥100.50, amid rekindled concerns about management woes at Deutsche Bank AG, market sources said.
“The dollar’s topside is expected to remain heavy for the time being as traders are in no mood to actively buy the dollar,” the margin trading service firm official said, also referring to speculation that interest rate hikes byUS Federal Reserve will be gradual.
At 5 pm, it stood at ¥100.53-54, down from ¥100.65-69 at the same time Monday. The euro was at $1.1248-1248, up from $1.1230-1234, and at ¥113.08-09, up from ¥112.99-113.00.
The greenback sank to levels close to ¥100 in the morning as the stock market opened with hefty losses. But it stayed above ¥100 and traders moved to cover short positions, lifting the dollar to around ¥100.80 before noon.
US Democratic presidential candidate Hillary Clinton’s apparent defeat of Republican rival Donald Trump in their first TV debate prompted short covering in the dollar, a Japanese bank official said.
“For now, Trump risk retreated,” an official at a currency margin trading service provider said.
In the afternoon, the dollar extended its rally and almost hit ¥101 as Japanese equities entered positive territory and finished considerably higher.
However, the dollar then fell back to levels around ¥100.50, amid rekindled concerns about management woes at Deutsche Bank AG, market sources said.
“The dollar’s topside is expected to remain heavy for the time being as traders are in no mood to actively buy the dollar,” the margin trading service firm official said, also referring to speculation that interest rate hikes byUS Federal Reserve will be gradual.
(rnz)
