MW: Dollar edges down vs. major rivals in Asian trading
By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) - The dollar erased early gains and edged down against its major rivals in Asian trading Tuesday, as investors took profits.
The dollar "headed into Asia on its highs, but struggled to extend the rally," said Sue Trinh, senior currency strategist at RBC Capital Markets, in e-mailed comments.
But safe-haven demand supported the greenback's downside, as most Asian stock markets remained in the red in afternoon trading.
The dollar was buying 92.04 yen, down from 92.20 yen in North American trading late Monday.
The euro bought $1.4901, up from $1.4847 late Monday, and the British pound was trading at $1.6345, up from $1.6318.
On Monday, the dollar turned higher, fed by safe-haven demand as analysts cited pressure on U.S. stocks nearing technical resistance levels, while concerns over the health of U.S. financial firms returned.
