Economic news

Yen firms though support for safe haven dollar persists

The U.S. dollar sank 0.13 percent to 113.47 yen on Thursday. The Japanese currency had climbed in the previous two sessions against the buck. But traders believe the demand for safe-haven dollar still overpasses its Japanese and Swiss peers.

Photo: Reuters

The dollar’s fundamentals remain stable, supported by a solid U.S. economy and increasing wage pressures which will keep the Federal Reserve on course for further policy tightening.

The dollar index stayed at 96.87 .DXY, below a 16-month peak touched on Monday.

The Aussie jumped 0.55 percent to $0.7275 amid stronger than expected employment numbers on Thursday.

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