AIRLINK 193.77 Decreased By ▼ -6.98 (-3.48%)
BOP 9.87 Decreased By ▼ -0.34 (-3.33%)
CNERGY 7.57 Decreased By ▼ -0.14 (-1.82%)
FCCL 39.41 Decreased By ▼ -0.65 (-1.62%)
FFL 16.29 Decreased By ▼ -0.52 (-3.09%)
FLYNG 25.84 Decreased By ▼ -0.81 (-3.04%)
HUBC 129.86 Decreased By ▼ -2.74 (-2.07%)
HUMNL 13.83 Decreased By ▼ -0.09 (-0.65%)
KEL 4.53 Decreased By ▼ -0.12 (-2.58%)
KOSM 6.47 Decreased By ▼ -0.12 (-1.82%)
MLCF 45.57 Decreased By ▼ -1.17 (-2.5%)
OGDC 209.11 Decreased By ▼ -3.32 (-1.56%)
PACE 6.72 Decreased By ▼ -0.18 (-2.61%)
PAEL 41.85 Increased By ▲ 0.57 (1.38%)
PIAHCLA 17.13 Increased By ▲ 0.13 (0.76%)
PIBTL 7.90 Decreased By ▼ -0.21 (-2.59%)
POWER 9.36 Decreased By ▼ -0.06 (-0.64%)
PPL 177.92 Decreased By ▼ -3.54 (-1.95%)
PRL 39.01 Decreased By ▼ -2.77 (-6.63%)
PTC 25.53 Increased By ▲ 0.83 (3.36%)
SEARL 106.73 Decreased By ▼ -5.11 (-4.57%)
SILK 0.99 Decreased By ▼ -0.01 (-1%)
SSGC 39.53 Decreased By ▼ -4.39 (-10%)
SYM 19.45 Increased By ▲ 0.47 (2.48%)
TELE 8.64 Decreased By ▼ -0.23 (-2.59%)
TPLP 12.53 Decreased By ▼ -0.39 (-3.02%)
TRG 65.34 Decreased By ▼ -2.13 (-3.16%)
WAVESAPP 11.15 Decreased By ▼ -0.27 (-2.36%)
WTL 1.73 Decreased By ▼ -0.06 (-3.35%)
YOUW 3.94 Decreased By ▼ -0.05 (-1.25%)
BR100 12,030 Decreased By -140.3 (-1.15%)
BR30 35,812 Decreased By -776.7 (-2.12%)
KSE100 113,520 Decreased By -1360.2 (-1.18%)
KSE30 35,651 Decreased By -473.7 (-1.31%)

The euro jumped more than a half cent on Friday after European Union leaders reached an agreement on migration, a thorny issue that has threatened EU unity and the fate of German Chancellor Angela Merkel. Still, the dollar index is on course to make its first quarterly gain in six while the Chinese yuan looks set to post its biggest fall for a month as traders increasingly worry about the impact of Sino-US trade disputes.
"It's a bit strange but the dollar is strong because investors repatriate funds due to worries about trade disputes, with emerging markets hit the hardest," said a trader at a US bank. The euro rose as high as $1.1650, extending its recovery from the one-week low of $1.15275 touched on Thursday, after EU leaders reached the deal on migration.
If unresolved, the row would have sent a damaging signal about EU unity at a time when the bloc is being assailed by US President Donald Trump on trade and struggling to deal with the legacy of its 2015 crisis, which saw more than one million refugees and migrants enter Europe.
It would have been especially dangerous for Merkel, the EU's longest serving leader, who came under intense pressure from her conservative allies in Bavaria to deliver a deal on migration in Brussels. The deal improved risk sentiment, undermining the yen while lifting growth-linked currencies such as the Australian dollar.
The yen fell 0.25 percent to 110.75 to the dollar while Australian dollar rose 0.3 percent to $0.7376. The dollar index against a basket of six major currencies stood down 0.5 percent at 94.936 after having risen to as high as 95.534 on Thursday, a level last seen almost a year ago.
Despite Friday's drop, the index was up 5.5 percent this quarter, its first rise since the final quarter of 2016.
The dollar's gains partly stemmed from the prospects of rising US interest rates on the back of solid expansion in the US economy.
During the past week, the greenback was helped by repatriations ahead of the end of quarter and a half year.

Copyright Reuters, 2018

Comments

Comments are closed.