Dollar Recovers as Yen Weakens

Tokyo, February 24 (QNA) – The greenback clawed back losses as China and Japan reopened following holidays.

The dollar index, which measures the greenback against a basket of currencies, rallied 0.2 percent to 97.90.

The yen dipped after China announced export controls on Japanese companies in a further sign of souring relations.

The euro slid 0.14 percent at $1.1768, while the yen sank 0.4 percent to 155.27 per dollar.

Sterling pound fell 0.08 percent to $ 1.3478.

The Australian dollar strengthened 0.1 percent versus the greenback to $ 0.706, while New Zealand’s kiwi was little changed at $ 0.5957.

China’s yuan hit the strongest level against the dollar in nearly three years on hopes Trump’s new tariff regime would lower taxes on Chinese exports. (QNA)