Yen climbs, euro falls as recovery doubts arise
The dollar held on to Monday’s gains, while the yen surged as weak U.S. economic data and increasing global COVID-19 cases kept investors cautious. The euro fell under pressure amid lockdowns and political turmoil in Italy.
The euro fell to a six-week low of $1.2066 in Asian trade and dropped to a one-month low of 125.20 against the yen. The Japanese currency was up 0.2% to 103.70 on the dollar and gained against the Aussie and kiwi dollars.
The Antipodean currencies softened against the dollar with the Aussie hitting a one-week low of $0.7679 and the kiwi falling to a three-week low of $0.7117.
Strong Chinese economic data stopped further selling but failed to shift sentiment.
The dollar index was steady after hitting a one-month high and traded at 90.827. The pound fell to a near-one-week low of $1.3567. The Canadian dollar dipped 0.2%.