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| MCX Tips |
Asian stocks and the dollar were off to a subdued start on Friday as
investors took profits on the last trading day of 2016, while the euro
briefly spiked in thin trade.
The euro jumped as much as 2 percent early on Friday, its biggest intraday gain since Nov. 8, before settling back down to trade 0.6 percent higher at $1.0559.
“It’s a really thin market today, and suddenly, offers disappeared and short-term players pushed the euro higher and took out stops. That’s all,” said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo.
The common currency is still down 2.8 percent for the year. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed early on Friday. In a year marked by major political surprises, including Brexit and the unexpected election of political novice Donald Trump to U.S. President in November, Asia ex-Japan stocks are poised to post a 3.3 percent gain
The euro jumped as much as 2 percent early on Friday, its biggest intraday gain since Nov. 8, before settling back down to trade 0.6 percent higher at $1.0559.
“It’s a really thin market today, and suddenly, offers disappeared and short-term players pushed the euro higher and took out stops. That’s all,” said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo.
The common currency is still down 2.8 percent for the year. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed early on Friday. In a year marked by major political surprises, including Brexit and the unexpected election of political novice Donald Trump to U.S. President in November, Asia ex-Japan stocks are poised to post a 3.3 percent gain
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