A sharp rise in the dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling near three-month lows as investors put their full faith in the still-strong US economy despite the bleak global growth outlook.<\/p>\n\n\n\n
The dollar rose to a new peak at 147.875 yen in early Asian trading, the highest level since November.<\/p>\n\n\n\n
Against a basket of currencies, the dollar index rose 0.05 percent to 104.91, holding on to some of the gains it made during the previous session, after climbing to a six-month peak, with the US service sector recording strong momentum in August unexpectedly.<\/p>\n\n\n\n
The euro fell in the latest trading by 0.09 percent, recording $1.0718, after falling to its lowest level since June on Wednesday. The British pound fell 0.06 percent to $1.2500 after falling to its lowest level in three months in the previous session.<\/p>\n\n\n\n
Data on Thursday showed that Chinese exports fell in August by 8.8 percent compared to their level a year ago, and imports contracted by 7.3 percent, which is slightly better than economic expectations, with a decline of 9.2 percent and 9.0 percent, respectively.<\/p>\n\n\n\n
These data did not help the Australian dollar, which fell 0.2 percent, recording $0.6370, while the New Zealand dollar was trading at $0.5871, thus hovering the two currencies near their lowest levels in ten months.<\/p>\n\n\n\n
The yuan fell in internal trading to a new low in ten months to 7.3252 against the dollar.<\/p>\n\n\n\n
In Japan, traders continued to anticipate possible intervention, with the yen facing great difficulties in rising against the strong dollar, even as officials intensified their warnings of the consequences of a wave of currency selling.<\/p>\n\n\n\n
In the latest trading, the yen recorded 147.66 against the dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"
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