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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".
Oil prices edged up in Asia on Tuesday, but trade was subdued as dealers waited for clearer signals on the US and other major economies and a fall in equities weighed on sentiment, analysts said.
New York's main contract, light sweet crude for delivery in February was up four cents to $93.24 a barrel in the morning while Brent North Sea crude ..... Read more
The overall bilateral trade of Pakistan and China last year crossed the figure of $12 billion for the first time, according to the latest data released by the China Customs.This puts us firmly on track to achieve the target of $15 billion in the next two to three years,” said Pakistan Ambassador to China Masood Khalid.
He said the leadership of the ..... Read more
SINGAPORE: Oil prices retreated in Asian trade Friday as traders grow increasingly concerned at the lack of a breakthrough in the US budget stand-off that has closed parts of the government down.
New York's main contract, West Texas Intermediate for delivery in November, eased 10 cents to $103.21 in afternoon trade while Brent North Sea crude for N..... Read more
