dollar was stuck in the upper 117 yen
zone Tuesday morning in
, with its upside heavy as falls in oil and stock prices triggered by continuing worries about
economic slowdown suppressed currency traders' risk appetite.
At noon, the dollar fetched 117.58-59 yen compared with 117.70-80 yen in
at 5 p.m. Monday. Japanese financial markets were closed Monday for a national holiday.
The euro was quoted at $1.0878-0878 and 127.89-90 yen against $1.0854-0864 and 127.74-84 yen in
late Monday afternoon.
The dollar remained soft as jitters over tumbling oil prices and falling
stocks continued to hurt traders' risk appetite and supported demand for the yen due to its safe-haven status, dealers said.
"A risk-off mood triggered by concerns about
still continues this week," said Yuzo Sakai
, manager of foreign exchange business promotion at Tokyo Forex & Ueda Harlow
"In the current stage, currency players are paying more attention to whether
woes can be eased than to the
economy," added Sakai, who also pointed to positive
economic data released last Friday.
morning session, Japanese stocks succumbed to heavy selling, with the 225-issue Nikkei Stock Average down more than 2 percent following a record five-day new year losing streak, and crude oil futures hitting a 12-year low overnight in
The euro traded narrowly against the dollar and the yen.
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Source: Equities.com News
(January 11, 2016 - 12:55 PM EST)
News by QuoteMedia