New York, Feb 17 (IANS) The US dollar rose against other major peers on Tuesday after an extended holiday weekend.
The greenback increased nearly 0.7 percent against the Japanese yen as a rebound across the global equity market dented investors’ appetite for safe-haven assets, Xinhua reported.
On the US economic front, the February 2016 Empire State Manufacturing Survey released on Tuesday indicates business activity continued to decline for New York manufacturers.
The headline general business conditions index edged higher, but remained firmly in negative territory.
The dollar index, which measures the greenback against six major peers, was up 0.96 percent at 96.861 in late trading.
In late New York trading, the euro fell to 1.1142 dollars from 1.1256 dollars of the previous session, and the British pound decreased to 1.4291 dollars from 1.4515 dollars. The Australian dollar went down to 0.7101 dollars from 0.7103 dollars.
The dollar bought 113.88 Japanese yen, higher than 113.24 yen of the previous session. The dollar moved up to 0.9883 Swiss francs from 0.9758 Swiss francs, and it climbed to 1.3877 Canadian dollars from 1.3842 Canadian dollars.
Tokyo stocks rise after Wall Street’s rally
Tokyo stocks opened higher from the off on Wednesday, as Wall Street’s overnight rally lifted the market mood.
As of 9:15 a.m., the 225-issue Nikkei Stock Average gained 53. 48 points, or 0.33 percent, from Tuesday to 16,107.91, Xinhua reported.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, added 5.59 points, or 0.43 percent, to 1,302. 60.
Early advancers comprised marine transportation, information and communication, and electric appliances-linked shares.
Chinese yuan weakens
The central parity rate of the Chinese currency renminbi (yuan) weakened by 107 basis points to 6.5237 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day, Xinhua reported.
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.