FX : CURRENCIES: U.S. Dollar, Yen Reverse Gains In Asia
The U.S. dollar and the Japanese yen declined against most major rivals in Asian currency trading Tuesday, giving up some of their gains from the previous session on a modest recovery in risk appetite.
The dollar recently changed hands for 94.89 yen, up from 94.47 yen in late North American trading. The euro was buying $1.4112, up from $1.4082, and bought 133.96 yen, up from 132.97 yen.
Asian equities seesawed in choppy trading, but were off the session lows in the afternoon.
"Though momentum is with unwinding of risk and consequent U.S. dollar and Japanese yen gains, there is sufficient uncertainty on U.S. dollar direction that near-term break from well-established ranges is unlikely," said Patrick Bennett, Asia forex and rates strategist at Societe Generale.
The dollar index (DXY), which tracks the greenback against a trade-weighted basket of six major currencies, was at 79.251, down from 79.288 late Monday.
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