SINGAPORE, Aug 14 ― The dollar drifted higher today, helped by strong US jobs data as well as firmer global demand for safe-havens amid concerns about the coronavirus recovery, setting the currency up to potentially snap a seven-week losing streak. Soft Chinese retail and production figures cast...
The yen was steady on the dollar at 106.94 in morning trade and is a little less than 1 per cent softer for the week. ― Reuters pic
The Aussie was last 0.2 per cent softer at US$0.7138 and has settled in to a range around that level after pulling back from a 18-month high hit a week ago. China's industrial output rose more slowly than expected in July and retail sales fell for a seventh straight month, suggesting some bumps in even the world's most promising rebound.
But beyond buoying the dollar any relief was shortlived, as some 30 million Americans are out of work and an aid package to keep stimulus flowing in the economy has stalled in Congress. The yen was steady on the dollar at 106.94 in morning trade and is a little less than 1 per cent softer for the week.
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