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Markets

Dollar more than 1% higher vs. yen

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Investing.com - The dollar was more than 1% higher against the yen on Tuesday as investors waited for U.S. markets to reopen following a three-day holiday weekend.

During European afternoon trade, the dollar rallied against the yen, with USD/JPY jumping 1.19% to 102.14.

The yen was weaker against the euro and the dollar on Tuesday after Japan's Nikkei steadied following extreme volatility in recent sessions.

Japanese equities rebounded after the Bank of Japan said it would fine-tune market operations after recent volatility in Japanese bond markets threatened to undermine the central bank's massive easing program.

Demand for the dollar continued to be supported by expectations that the Federal Reserve is moving closer to winding down its USD85 billion-a-month asset purchase program.

Elsewhere, the euro was steady against the dollar, with EUR/USD dipping 0.01% to 1.2928.

The dollar gained ground against the Swiss franc, with USD/CHF climbing 0.41% to 0.9695.

The dollar was little changed against the pound, with GBP/USD inching up 0.05% to 1.5110.

The greenback was broadly lower against its Australian, New Zealand and Canadian counterparts, with AUD/USD rising 0.42% to 0.9693, NZD/USD up 0.35% to 0.8108 and USD/CAD easing up 0.10% to 1.0348.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.16% to 83.89.

Investors were looking ahead to U.S. private sector data on house price inflation and a report on consumer confidence later Tuesday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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