Dollar gains & yen slips after Trump-Abe meet
Shital Jibhe / 13 Feb 2017
The dollar gained against yen, as the meeting between US President Donald Trump and Japanese President Shinzo Abe had no mention of currency policy.
The dollar gained against yen, as the meeting between US President Donald Trump and Japanese President Shinzo Abe had no mention of currency policy.
The Asian stocks went up with renewed optimism over tax reform plans, like upbeat economic data and Trump change of tack to agree to honour 'one China' policy. The dollar surged as much as 0.9 per cent against yen to 114.17 yen.
Japanese Deputy Prime Minister Taro Aso led the US-Japan economic dialogue and Vice President Mike Pence addressed on the monetary and fiscal policies as well as infrastructure projects and trade.
Morgan Stanley Capital International (MSCI)'s broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, led by resource-related shares. Japan's Nikkei rose 0.4 per cent, hitting its highest level, since early January.
The MSCI's world index, which track shares in 46 countries, rose to its highest level since May 2015 on Friday, with Wall Street's main stock indexes rising to fresh all-time closing highs.
Tax cut hopes offered broad support for the dollar, with the euro slipping 0.2 per cent to USD 1.0622.
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