Dear fellow traders,
Today we see the US dollar clawed its way back after some of its losses against Asian currencies. Investors shrugged off a dovish tone from US Federal Reserve Chair Janet Yellen and any political concerns. Still, Asian currencies generally continued to gain ground.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.04% to 95.52.
The greenback was falling against the Australian dollar by 0.12% to AUS1.2921. The Aussie dollar, which often acts as a proxy for the Chinese yuan, has been supported this by stronger iron and oil prices.
The Japanse yen weakened against the dollar Friday, giving up some early gaining. By mid-morning, it was trading at JPY113.44, losing 0.14% against the greenback. It was the worst performer in Asia. The yen started the year at JPY118.6 to the dollar.
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