Dollar gains against most rivals, but slips vs. yen
By MarketWatch
Last Update: 4:02 AM ET Apr 19, 2010
TOKYO (MarketWatch) -- The yen was the winner in Asian trading Monday, but the dollar gained on other major rivals in the wake of Friday's news that the U.S. Securities and Exchange Commission charged Goldman Sachs with defrauding investors.
In addition to the Goldman news, the unfolding bailout of debt-ladened Greece, as well as further appreciation of the Chinese yuan, also loomed large for currency investors.
"This week, we think major focuses of attention should remain whether the Greece bailout scheme will be activated as well as continued expectations of a CNY [Chinese yuan] revaluation," Tomoko Fujii, a rates and currency strategist at Bank of America Securities-Merrill Lynch, said in recent emailed comments.
Against the yen, the dollar "is likely to be top heavy on CNY expectations," she added.
Against its Japanese counterpart, the dollar CUR_USDYEN slipped to 91.78, from 92.15 yen in late North American trading on Friday.
The dollar index DXY, which measures the greenback against a basket of six major currencies, rose to 81.161, from 80.819 late Friday.
The euro CUR_EURUSD fell to $1.3441, from $1.3500 late Friday, and the British pound CUR_GBPUSD declined to $1.5218, from $1.5391.
On Friday, the dollar extended gains versus the euro and other major currencies on after stocks dropped following the Goldman news.
By MarketWatch
Last Update: 4:02 AM ET Apr 19, 2010
TOKYO (MarketWatch) -- The yen was the winner in Asian trading Monday, but the dollar gained on other major rivals in the wake of Friday's news that the U.S. Securities and Exchange Commission charged Goldman Sachs with defrauding investors.
In addition to the Goldman news, the unfolding bailout of debt-ladened Greece, as well as further appreciation of the Chinese yuan, also loomed large for currency investors.
"This week, we think major focuses of attention should remain whether the Greece bailout scheme will be activated as well as continued expectations of a CNY [Chinese yuan] revaluation," Tomoko Fujii, a rates and currency strategist at Bank of America Securities-Merrill Lynch, said in recent emailed comments.
Against the yen, the dollar "is likely to be top heavy on CNY expectations," she added.
Against its Japanese counterpart, the dollar CUR_USDYEN slipped to 91.78, from 92.15 yen in late North American trading on Friday.
The dollar index DXY, which measures the greenback against a basket of six major currencies, rose to 81.161, from 80.819 late Friday.
The euro CUR_EURUSD fell to $1.3441, from $1.3500 late Friday, and the British pound CUR_GBPUSD declined to $1.5218, from $1.5391.
On Friday, the dollar extended gains versus the euro and other major currencies on after stocks dropped following the Goldman news.