【can a 6.5 creedmoor kill a moose】FOREX-Dollar scales 10-week high vs yen on upbeat U.S. GDP
* Graphic: World FX rates in 2019
http://tmsnrt.rs/2egbfVh
* Dollar lifted as yields spike on stronger-than-expected US GDP (Adds details and quotes,can a 6.5 creedmoor kill a moose updates prices)
By Shinichi Saoshiro
TOKYO, March 1 (Reuters) - The dollar scaled a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after U.S. gross domestic product data topped expectations.
The greenback was rose roughly 0.3 percent to 111.77 yen , its strongest level since Dec. 20.
The dollar's advance gathered momentum after it successfully breached technical resistance near the 200-day moving average of 111.30.
The dollar index against a basket of six major currencies extended overnight gains and was up 0.1 percent at 96.250 , pulled further away from a three-week trough of 95.824 plumbed on Thursday.
The overnight wobbles in the U.S. currency came as the euro rallied on growing expectations that the European economy may have turned a corner.
But the dollar managed to claw back its losses after data showed U.S. gross domestic product increased at a 2.6 percent annualised rate in the fourth quarter, above economists' forecasts for a 2.3 percent gain.
"The dollar received a clean break as Treasury yields rose in earnest following the robust U.S. GDP data," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
"The strong response to the U.S. GDP data shows that the market is currently focused on fundamentals, rather than geopolitical factors."
The dollar suffered brief dips against the yen, a perceived safe-haven, this week as tensions between India and Pakistan flared and as a summit between U.S. President Donald Trump and North Korean leader Kim Jong Un ended without an agreement.
But the U.S. currency was on track for a 0.9 percent weekly gain against its Japanese peer.
The euro was steady at $1.1371, having slid from a three-week peak of $1.1420 scaled the previous day.
"Although the Fed effectively declared in January that it was poised to cease hiking rates, bouts of dollar selling have been short-lived," said Daisuke Karakama, chief market economist at Mizuho Bank.
"Even as the Fed's policy normalisation process slows down, the dollar looks to be supported as long as the European and Japanese central banks are stuck with current policies."
The Australian dollar was little changed at $0.7093, , stabilising after suffering sharp losses the previous day.
The Aussie took a hit on Thursday after a disappointing reading on Chinese manufacturing overshadowed a solid report on domestic business investment.
The benchmark 10-year U.S. Treasury yield stood at 2.716 percent after surging to 2.731 percent on Thursday, its highest since Feb. 6. (Editing by Simon Cameron-Moore)
View comments
-
It's not over until there is no virus anywhere in the world - WHOEnergy Fuels Inc.'s (TSE:EFR) Intrinsic Value Is Potentially 96% Above Its Share PriceBank of Baroda rolls back charges after public outcryThe Global Gelatin Market is expected to grow by 248.81 thousand MT during 2020-2024 progressing at a CAGR of 8% during the forecast periodHAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Urges Opera Limited (OPRA) Investors With Losses to Contact its Attorneys: Important Class Action Deadline ApproachingAcadia Pharmaceuticals (ACAD) Reports Q3 Loss, Tops Revenue EstimatesBest & Worst Performing Stocks in Coronavirus OutbreakaTyr Pharma to Webcast Conference Call Reporting Third Quarter 2020 Financial Results - Management to host conference call and webcast on November 12th at 5:00 pm EST / 2:00 pm PSTCastlebar Capital Corp. Announces Termination of LOI Respecting Qualifying TransactionThe Bar Harbor Bankshares (NYSEMKT:BHB) Share Price Is Down 38% So Some Shareholders Are Getting Worried
下一篇:UPDATE 1-MSCI to quadruple weighting of China A-shares in its global benchmarks
- ·GLOBAL MARKETS-Asian shares go flat as China data disappoints
- ·Broadcom Inc. (AVGO) Stock Moves -1.58%: What You Should Know
- ·Expanse Integrates with ServiceNow
- ·RTX CLASS ACTION FILING DEADLINE: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Raytheon Technologies Corporation
- ·Voya: 3Q Earnings Snapshot
- ·EXPLAINER-Why automakers are on a drive to sell electric cars in Europe
- ·EXPLAINER-Why is Israel holding its third election in a year?
- ·Earnings Preview: Novanta (NOVT) Q3 Earnings Expected to Decline
- ·Are Investors Undervaluing American Outdoor Brands (AOBC) Right Now?
- ·State-backed hackers targeting coronavirus workers, US and UK warn
- ·Which Consumer Staples Stock Will Grow The Most By 2025?
- ·It's not over until there is no virus anywhere in the world - WHO
- ·Is Now The Time To Look At Buying National Beverage Corp. (NASDAQ:FIZZ)?
- ·Knowles (KN) Q1 Earnings Beat Estimates, Revenues Down Y/Y
- ·Before You Buy IBI Group Inc. (TSE:IBG), Consider Its Volatility
- ·MERGER INVESTIGATION ALERT: Halper Sadeh LLP Encourages CKH, PS, WDR, and EIDX Shareholders to Contact the Firm
- ·Intrepid Congratulates East Plant Employees on Record Monthly Domestic Sales Volumes in April
- ·Is MYR Group (MYRG) a Great Value Stock Right Now?
- ·More than one-third of small businesses may not last a month: poll
- ·Walmart Stock Rises 3%
- ·SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Evolus, Inc. of Class Action Lawsuit and Upcoming Deadline – EOLS
- ·Is It Smart To Buy Garmin Ltd. (NASDAQ:GRMN) Before It Goes Ex-Dividend?
- ·StockBeat: Virus Derails Intu's Rescue Plan
- ·BRIEF-Wangfujing Group, BTG Hotels' Chairman Passed Away Due To Illness
- ·Should You Sell in May or Buy 5 Top Coronavirus-Immune Stocks?
- ·PRGX Global's (PRGX) Shares March Higher, Can It Continue?
- ·TUI Will Cut Budgets, Freeze Hiring to Deal With Coronavirus Spread
- ·Earnings Preview: Diodes (DIOD) Q3 Earnings Expected to Decline
- ·Gilead Sciences Could Be the First to Beat the Coronavirus
- ·OneWater Marine Inc. Announces Fiscal Fourth Quarter and Full-Year 2020 Earnings Release Date and Conference Call Information
- ·Ferrari (RACE) Q3 Earnings Beat Estimates
- ·Zuora's (ZUO) Loss Narrows in Q1, Revenues Increase Y/Y
- ·Exxe Group Inc. Announces Public Spin-off Strategy to Create Value for Shareholders
- ·Why looting, protests and COVID-19 haven't pounded the stock market
- ·5 Value Stocks In The Energy Sector
- ·Best Tarot Cards Reading Online By Kasamba Tarot Readers Experts - How To get Free Love Tarot Readings Online