Shell invests in Mina West gas development in Egyptian Mediterranean Sea    Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Dollar prices up from 4 months-low vs. yen
Published in Amwal Al Ghad on 23 - 03 - 2017

Dollar prices edged up from four-month lows against the yen on Thursday, but gains were capped by U.S. President Donald Trump's struggle to push through a healthcare bill.
The U.S. currency has struggled this week as growing doubts over Trump's ability to push through with economic and tax policies triggered broad risk aversion and buffeted equities.
U.S. Treasury yields declined in turn, eroding the dollar's interest allure.
Financial markets' immediate focus is on whether Trump can gather enough support at a vote later in the day to pass a bill to rollback Obamacare, one of his key campaign pledges.
Trump's plan faces resistance from some conservative Republicans who view it as too similar to Obamacare, and from moderates concerned it will hurt some voters.
"The vote on Obamacare is a litmus test for Trump. If he can't push through the bill on Obamacare, it would further damage stocks. It also raises the risk of his other policies, like tax cuts, being delayed," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
"So today's vote is of main importance to the currency market."
The dollar was up 0.15 percent at 111.350 yen, enjoying a bit of respite after sliding to a four-month low of 110.735 on Wednesday, when it fell for the seventh straight session.
With global equities buffeted by risk aversion this week -Wall Street on Tuesday suffered its worst day since Trump's election, the dollar has struggled notably against the yen, often sought by investors due to its perceived safe-haven status in times of market tumult.
Its safe-haven status was also seen helping the yen as Tokyo dealt with a political scandal involving Prime Minister Shinzo Abe, facing questions about his ties to a nationalist school involved in a murky land deal.
"If the situation over the prime minister's dealings with the school remains unresolved, the yen could gain further against the dollar," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.
The euro was little changed at $1.0792 after advancing to a seven-week high of $1.0825 overnight.
The common currency has been supported this week on growing expectations of a tightening in European Central Bank monetary policy this year, and on bets that the anti-euro candidate Marine Le Pen will be defeated in the French presidential elections.
The dollar index against a basket of major currencies was up 0.1 percent to 99.751 after its descent to a seven-week trough of 99.457 the previous day.
The pound was effectively flat at $1.2482 and in reach of a one-month high of $1.2507 scaled on Wednesday.
Sterling briefly dipped on Wednesday following what the police described as a marauding terrorist attack in London, but it recovered when there were no reports of other separate incidents.
The Australian dollar was down 0.3 percent at $0.7657.
The Aussie has lost about 0.6 percent this week, after a stellar two percent gain last week, as investors sought safe havens such as the yen, bonds and gold.
Also working against the Aussie was a steep fall in the price of iron ore – the country's top export earner.
The New Zealand dollar was steady at $0.7041.
Source: Reuters


Clic here to read the story from its source.