Yen up and dollar clinging on as China's Houston response awaited

ies from the South Korean won to the Thai baht and Singapore dollar were also gently pressured. Elsewhere the tearaway euro (EUR=EBS) remained a tower of strength since busting through chart resistance in the afterglow of Europe's leaders agreeing on a coronavirus rescue package. It has gained 1.6% this week, its best since late June, and 3.4% for the month so far to sit at $1.1615, just below a 21-month high hit overnight. Sterling hung on to early-week gains at $1.2749. Besides China's next move, investors are looking to a slew of Purchasing Managers Index figures due across Europe and the U.S. later on Friday for a read on economic recovery progress. Focus is also on the next U.S. fiscal rescue package, which is deadlocked in Congress while a month-end deadline looms as some unemployment benefits are due to expire. "The concern is that a failure to get this away will impact consumer sentiment at a time when U.S. data is starting to miss the mark," said Chris Weston, head of research at Melbourne brokerage Pepperstone.


https://www.investing.com