Dollar ticks up against yen

AFP, TOKYO: The dollar ticked up against the yen yesterday as Chinese authorities moved to shore up the world’s number two economy and reverse a global stock market bloodbath.
In Tokyo, the dollar changed hands at 119.36 yen, up from 118.84 yen in New York late Tuesday.
Fears over slowing growth in China have pushed investors into the yen—a safe haven during times of turmoil—sending the dollar tumbling to 116.18 yen this week, its lowest level since February.
Also on Wednesday, the euro rose to $1.1522 and 137.53 yen, up from $1.1518 and 136.87 yen.
China on Tuesday cut interest rates and lowered how much cash banks must hold for the second time in as many months in the latest effort to stem an equities rout that began in June. Asian stocks staged a wobbly recovery in the wake of the moves, after US stocks finished lower for the sixth straight session Tuesday, with the Dow posting another triple-digit decline after a morning rally fizzled.

Dollar ticks up against yen

AFP, TOKYO: The dollar ticked up against the yen yesterday as Chinese authorities moved to shore up the worlds number two economy and reverse a global stock market bloodbath. In Tokyo, the dollar changed hands at 119.36 yen, up from 118.84 yen in New York late Tuesday. Fears over slowing growth in China have pushed investors into the yena safe haven during times of turmoilsending the dollar tumbling to 116.18 yen this week, its lowest level since February. Also on Wednesday, the euro rose to $1.1522 and 137.53 yen, up from $1.1518 and 136.87 yen. China on Tuesday cut interest rates and lowered how much cash banks must hold for the second time in as many months in the latest effort to stem an equities rout that began in June. Asian stocks staged a wobbly recovery in the wake of the moves, after US stocks finished lower for the sixth straight session Tuesday, with the Dow posting another triple-digit decline after a morning rally fizzled.