Dollar, euro drift as markets seek direction, yen slips
SINGAPORE: The US dollar traded in a narrow range in early Asian trading on Tuesday as a tentative recovery in investor confidence supported higher-yielding currencies, while rising political risks in Europe continued to unsettle markets.
The US dollar and euro drifted on Tuesday as markets searched for direction, while the yen experienced a slight decline. The tentative recovery in investor confidence bolstered higher-yielding currencies, including the Australian and New Zealand dollars, which both saw marginal gains. The euro remained steady at US$1.1216, while the British pound rose slightly to US$1.3308.
Against the yen, the US dollar traded flat at 158.56 yen before a Japanese government bond auction. European markets, however, remained less certain, with France facing unrest following nationwide anti-government protests. French authorities imposed curfews in several cities, and Italy deployed 500 troops in response to two days of unrest.
The widening spread between French and German 10-year government bonds and heightened political risks in Europe put pressure on the euro. The US dollar index rebounded slightly after a two-day losing streak, while Bitcoin and Ether remained relatively stable.
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- Dollar and euro drift, yen slips as markets seek direction freemalaysiatoday.com
