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Dollar lower vs. most rivals in Asian trading
By Lisa Twaronite, MarketWatch
Last Update: 4:59 AM ET Jul 30, 2009
TOKYO (MarketWatch) -- The dollar was lower against most major counterparts in Asian trading Thursday, but stuck to recent ranges as a recovery in Chinese shares after the previous session's sell-off made investors less risk averse.
The dollar bought 95.03 yen, just a single tick below 95.04 yen in late North American trading on Wednesday.
The dollar index DXY, which tracks the greenback against a trade-weighted basket of six major currencies, was at 79.371, down from 79.473 late Wednesday.
The euro was buying $1.4048, slightly up from $1.4046 late Wednesday, and the British pound bought $1.6474, up from $1.6374.
The Shanghai Composite was up 1.7%, after plunging 5% Wednesday and spooking investors. Lower-yielding currencies, such as the yen and dollar, tend to benefit whenever risk aversion rises.
Currency markets had a muted reaction to Japanese industrial production figures. The Ministry of Economy, Trade and Industry said Japan's industrial output rose 8.3% in the April-June quarter from the January-March period -- the biggest on-year jump since 1953. See Asia Markets.
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