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TOKYO: The dollar rose against the safe-haven yen in Asia on Tuesday as risk-taking sentiment increased on fading concern of an imminent US military strike on Syria and improved economic data. The dollar rose to 99.44 yen in afternoon Asian trade from 99.34 yen in London late Monday and the 98-yen range in Tokyo Monday. "The market hasn't completely turned to risk-on mode, but the pair (dollar-yen) is likely to keep the momentum from yesterday," said Osao Iizuka, head of forex trading at Sumitomo Mitsui Trust Bank. The dollar "looks strong" against the yen but its topside could be capped at 100.00 before US jobs data Friday and more Japanese exporter selling, he told Dow Jones Newswires. The euro changed hands at $1.3187, against $1.3193 in European trade, while the single currency stood at 131.13 yen against 131.07 yen. US financial markets were closed Monday for the Labor Day federal holiday. National Australia Bank said the improved sentiment following upbeat Chinese manufacturing numbers "spilled over into European markets overnight".
he French auto industry was hit again on Tuesday when Renault said that it planned to cut its staff in the country by 7,500 workers by 2016 to become more competitive and prepare for the hiring of others with specific skills.
The company said that it would shed 5,700 jobs through natural attrition, with the balance coming from the extension of an ea..... Read more
Home prices in China rose year-on-year in February for the third consecutive month, an independent survey showed Friday, citing strong credit growth as a key factor.
New home costs in 100 major cities jumped 2.48 percent from a year earlier to an average 9,893 yuan ($1,589) per square metre last month, the China Index Academy said, following rises of 1..... Read more
All Pakistan Compressed Natural Gas Association has demanded gas tariff as equal to other sectors to cut down CNG retail price, said Chairman Supreme Council APCNGA Ghiyas Paracha while addressing press conference here on Tuesday.
APCNG suggested Federal Adviser Dr Asim having Canadian nationality should go back to Canada that would be better.He bl..... Read more
