The dollar caught its breath in Asia on Thursday, steadying as U.S. yields went up while investors waited on European inflation data, after nasty surprises in Germany, France and Spain have given a boost to the euro this week.
The U.S. dollar index rose 0.2% to 104.58, helped as U.S. Treasury yields hit fresh high during Asia trade and as Federal Reserve official NeelElsewhere the yen was fairly steady at 136.40 to the dollar, while the Australian and New Zealand dollars and the Chinese yuan wavered slightly after strong Wednesday gains supported by roaring Chinese manufacturing data.
China's yuan settled back to 6.8928 to the dollar after logging its biggest jump of 2023 on Wednesday.Sunday"Yesterday's positive surprise in the PMIs for China in February are a positive for mining commodity prices and the currencies of countries that export them," said Commonwealth Bank of Australia's head of international economics, Joe Capurso.
"The yuan and commodity currencies such as the Australian and New Zealand dollars can rise materially if the meeting sends a pro‑growth signal, as we expect." Bitcoin has made little headway despite the dollar's dip and was last at $23,493. Trouble at crypto bank
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