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Dollar Consolidates, Yen Weakens as Risk Sentiment Improves
Wednesday, 17 October 2018 09:37 WIB | CURRENCIES |Dolar Indeks DolarDolar AS

The dollar was little changed against most of its major peers on Wednesday but made gains against the yen as upbeat Wall Street earnings turned global sentiment away from safe haven assets.

The three main Wall Street indexes each rose by more than two percent as blue-chips delivered strong earnings indicating that the U.S. economic recovery is on track despite the impact of rising interest rates and global trade war tensions.

Data on Tuesday showed that U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter.

The dollar index, a gauge of its value against six major peers traded flat at 95.08 on Wednesday.

The greenback gained 0.13 percent against the Japanese yen on Wednesday, which traded at 112.40 to the dollar.

The yen had strengthened over seven out of eight sessions prior to Tuesday and hit a one-month high of 111.61 on Monday.

Source : Reuters

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