The yen gained against the euro and dollar on Thursday as a rebound in oil prices and European stock markets failed to convince currency markets that the rough start to 2016 was over. Sterling gained more than half a percent on positive signs ahead of 'now or never' EU talks aimed at reaching a deal with Britain that will help keep it in the 28-country bloc in a referendum later this year.
The Australian dollar recovered most of the losses it incurred after weak employment data bolstered the case for more interest rate cuts there, while the Norwegian crown and Canadian dollar both gained on the back of a 3 percent rise in crude. But the yen, the chief beneficiary of the weakest opening to a year for stock markets since the aftermath of the 2008 financial crisis, was still 0.3 percent higher on the day at 113.80 yen per dollar and up 0.6 percent at 126.14 yen per euro. Sterling rose around half a percent to $1.4360 and 0.8 percent to 77.20 pence per euro.
Comments
Comments are closed.