Source AP ©

Dollar rises against yen on global stock recovery

The dollar rose against the yen Tuesday in Asia as short-term overseas investors resumed yen carry trades on the back of a recovery in global stock markets.

The dollar was trading at 114.56 yen midafternoon, up from 114.10 yen late Monday in New York. The euro fell to US$1.4265 from US$1.4296.

"Most investors are now trading currencies based on global stock moves," said Keiichi Iguchi, a dealer at Resona Bank. "As long as global stocks remain healthy, players will likely keep selling the yen for a while."

When equity markets turn higher, short-term investors tend to resume risky yen carry trades, in which they borrow funds in yen to invest in higher-yielding assets denominated in other currencies.

Traders also said that growing speculation about an October rate cut by the U.S. Federal Reserve could accelerate yen sales. If the U.S. central bank cuts its key rates, a further advance in global stocks may push the yen lower.

Looking ahead, market participants are focused on U.S. economic data such as September existing home sales, due out Wednesday, and September durable goods sales, due Thursday.

In Tokyo, the Nikkei 225 average rose 0.07 percent Tuesday to close at 16,450.58 points. The Dow Jones Industrial Average gained 0.3 percent to finish at 13,566.97 overnight, rising for the first time in six days.

The dollar was mixed against other regional currencies, rising to 917.9 South Korean won from 917.00 the previous day, and to 1.4665 Singapore dollars from 1.4648. It fell to 7.7505 Hong Kong dollars from 7.7508, and to 39.692 Indian rupees from 39.70.

World's most powerful nuclear submarines, Arkhangelsk and Severstal, are to be dismantled after 2020 - their further exploitation is unprofitable

Russia gets rid of world’s most powerful nuclear submarines

The United States' Head of Diplomacy, or Secretary of State, is an anachronistic, incompetent, meddling, intrusive, insolent and arrogant, rude individual, a brash, foul-mouthed upstart, a conceited, self-important guttersnipe and an insult to the international community, as fit for the job as a pedophile janitor in a grade school.

Tillerson must go!
Comments
Turkey distances itself from Russia to plunge Syria into greater chaos
Tillerson must go!
Torturing Jerusalem with USA's help: No peace, but eternal war for Jews and Arabs
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
Turkey distances itself from Russia to plunge Syria into greater chaos
Turkey distances itself from Russia to plunge Syria into greater chaos
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
North Korea and Double Standards. Vancouver Conference a Missed Opportunity.
Ukraine's Western allies point their guns at President Poroshenko
Ukraine's Western allies point their guns at President Poroshenko
Why did the USSR lose the Moon race?
Honor me: The hell with you
Is the Syrian War Really Over?
Tillerson must go!
Honor me: The hell with you
Honor me: The hell with you
USA to crush Russia's space industry in 2019
NATO embraces Russia with wings of love
Russia officially accuses USA of plotting major riots during 2018 elections
Can Russia perform under Soviet flag during 2018 Winter Olympics?