Euro gains in Asia
Thursday, 27 August 2009
TOKYO, Aug 26 (AFP): The euro rose in Asian trade today as gains on world stock markets boosted demand for risk-sensitive currencies, dealers said.
The euro climbed to 1.4312 dollars in Tokyo afternoon trade from 1.4294 in New York late on Tuesday, and to 134.76 yen from 134.62. The dollar was little changed at 94.17 yen against 94.15.
Investors bought currencies regarded as well placed to benefit from an economic recovery, after a rebound in US consumer confidence lifted stocks in the United States and Asia, including in China.
The Shanghai stock market has endured a rollercoaster ride in recent weeks as investors fret over whether a bubble in the market is deflating. The Shanghai Composite Index was up 1.5 per cent at midday Wednesday.
The euro climbed to 1.4312 dollars in Tokyo afternoon trade from 1.4294 in New York late on Tuesday, and to 134.76 yen from 134.62. The dollar was little changed at 94.17 yen against 94.15.
Investors bought currencies regarded as well placed to benefit from an economic recovery, after a rebound in US consumer confidence lifted stocks in the United States and Asia, including in China.
The Shanghai stock market has endured a rollercoaster ride in recent weeks as investors fret over whether a bubble in the market is deflating. The Shanghai Composite Index was up 1.5 per cent at midday Wednesday.