Dollar steady in Asia as confidence returns

AFP, TOKYO: The dollar held steady against the yen and euro yesterday after rallying on newfound confidence across world markets thanks to a pick-up in oil prices and easing concerns about China's yuan.
Crude soared yesterday for a third day on reports that of an expected meeting between key producers Saudi Arabia and Russia planned for later in the day, fanning hopes for a possible output cut to prevent prices diving further.
But while higher risk asset classes from commodities to equities were enjoying some rare attention, analysts warned the volatility that has characterised 2016 so far could soon return.
"Markets haven't wiped out wariness," said Hiroyuki Yamamuro, an analyst at Ueda Harlow in Tokyo.
"A new theme is needed to shrug off risk sentiment-driven moves. This week's slew of US data may help shift focus to fundamentals if the figures are positive."

Dollar steady in Asia as confidence returns

AFP, TOKYO: The dollar held steady against the yen and euro yesterday after rallying on newfound confidence across world markets thanks to a pick-up in oil prices and easing concerns about Chinas yuan. Crude soared yesterday for a third day on reports that of an expected meeting between key producers Saudi Arabia and Russia planned for later in the day, fanning hopes for a possible output cut to prevent prices diving further. But while higher risk asset classes from commodities to equities were enjoying some rare attention, analysts warned the volatility that has characterised 2016 so far could soon return. Markets havent wiped out wariness, said Hiroyuki Yamamuro, an analyst at Ueda Harlow in Tokyo. A new theme is needed to shrug off risk sentiment-driven moves. This weeks slew of US data may help shift focus to fundamentals if the figures are positive.