• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Business Economy

Dollar Under Pressure in Asia

ToP by ToP
October 16, 2014
in Economy, Featured
0
Dollar down

Dollar under pressure in Asia

0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The dollar struggled against the yen in Asia on Thursday after tumbling in New York trade in response to a weak batch of US data that has sparked fears about the world’s number one economy. 

[contentblock id=1 img=adsense.png]

In midday Tokyo trade, the dollar bought 106.00 yen, slightly up from 105.91 yen in New York, but sharply lower than 107.33 yen in Tokyo earlier Wednesday.

Dollar down
Dollar under pressure in Asia

At the start of the month, the greenback broke 110 yen for the first time in six years. The euro was at $1.2821, against $1.2834 in New York but still much stronger than the $1.2702 earlier Wednesday in Tokyo. The single currency was also at 136.05 yen against 135.94 yen in New York “Investors are increasingly concerned about potential slowdown in the US economy through contagion from the rest of the world and due to the spread of Ebola,”

[contentblock id=2 img=adsense.png]

Credit Agricole said. The US Commerce Department said retail sales fell in September for the first time in seven months, while the Labor Department said US producer prices fell last month for the first time since August 2013. Analysts had expected a rise

The news led to fears that the US economy, which has been showing strong signs of recovery this year, may be feeling the effects of a struggling eurozone, a slowdown in China and stuttering Japanese growth. The weak figures dampened the likelihood of the Federal Reserve lifting interest rates from record lows any time soon, putting further downward pressure on the dollar. Fears about the spread of the Ebola virus in the United States also hit sentiment. US President Barack Obama held a crisis meeting with top aides at the White House on Wednesday after a second infection was diagnosed at a Texas hospital where a Liberian man died a week ago.

He pledged a “much more aggressive” response at home to the disease but insisted the risk of a serious outbreak on US soil was low. “Wound-licking, puzzlement and regrouping will be the order of the day today,” National Australia Bank said in a note titled “Get Me Out of Here!”

[contentblock id=3 img=adsense.png]

However, Mizuho Securities chief forex strategist Kengo Suzuki said the dollar’s fall may be a “good opportunity to invest in dollar-denominated assets” as the Fed reins in its stimulus, while Japan’s central bank looks set to expand its monetary easing programme. – AFP

Tags: business newslatest news
Previous Post

Beached Whale Torn Apart By Locals

Next Post

Mehwish Hayat Endorse Sister’s Debut Song

ToP

ToP

Related Posts

Pakistan earns US $434 million by exporting transport services in 7 months
Pakistan

Pakistan earns US $434 million by exporting transport services in 7 months

by Top
April 12, 2022
IMF to continue support Pakistan after ‘new gov’t is formed’
Economy

IMF to continue support Pakistan after ‘new gov’t is formed’

by Top
April 6, 2022
National Assembly Approves Rs8.487tr Budget for next Fiscal year with Majority Vote
Economy

National Assembly Approves Rs8.487tr Budget for next Fiscal year with Majority Vote

by Top
June 30, 2021
Entertainment

Hareem Shah reveals why Sheikh Rasheed never married

by Top
April 12, 2021
Rupee Becomes World’s best Currency
Economy

Rupee Becomes World’s best Currency

by Top
April 1, 2021
OGRA Recommends Slashing Fuel Prices
Economy

OGRA Recommends Slashing Fuel Prices

by Top
March 31, 2021
Rising Inflation costs Hafeez Shaikh his Job
Economy

Rising Inflation costs Hafeez Shaikh his Job

by Top
March 30, 2021
Next Post
Mehwish Hayat songs

Mehwish Hayat Endorse Sister’s Debut Song

Popular Stories

  • Foreign exchange: SBP reserves go down by $75mn in a week

    Foreign exchange: SBP reserves go down by $75mn in a week

    0 shares
    Share 0 Tweet 0
  • Supreme Court bars govt from initiating action against Imran Khan

    0 shares
    Share 0 Tweet 0
  • Ertugrul’s Statue bearing Resemblance to Engin Altan Removed in Turkey

    0 shares
    Share 0 Tweet 0
  • Petrol, and diesel in Pakistan still cheaper than UK, BD, India, UAE

    0 shares
    Share 0 Tweet 0
  • Asad Umar welcomes PM Shehbaz Sharif’s offer for talks on fresh elections

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • Petrol, and diesel in Pakistan still cheaper than UK, BD, India, UAE
  • Foreign exchange: SBP reserves go down by $75mn in a week
  • Supreme Court bars govt from initiating action against Imran Khan

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In