USD Edges Up After Three Days of Losses, Yen Eases
A gauge of the dollar edged higher within a tight, flow driven range while the yen fell in part on fix flows and as some haven longs were trimmed.
Bloomberg Dollar Spot Index rose 0.1% after posting its third daily loss on Tuesday amid rising geopolitical tensions.
Yen fell as residual haven longs were trimmed and while investors mulled the latest developments in Ukraine, Asia-based FX traders said.
While there’s been a pause in the dollar’s rally, the escalation in the Russia-Ukraine conflict points to further dollar strength in the coming weeks, said Nick Twidale, chief analyst at ATFX in Sydney.
USD/JPY gains 0.3% to 155.07.
AUD/USD eases 0.1% to 0.6525; spot initially traded toward a one-week high on purchases against euro and as some exporters had written off chance of a new low by month-end, according to Asia-based FX traders who added flows were thin.
Some information comes from FX traders familiar with the transactions who asked not to be identified because they aren’t authorized to speak publicly.
Source: Bloomberg
