AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The yen fell past 112 to a 10-month low against a broadly stronger US dollar on Thursday, extending recent losses for the Japanese currency as investors fretted about dire economic news out of the country.

Against the yen, the dollar rose 0.71% to 112.14, its highest since April. The yen, which benefits during geopolitical or financial stress as Japan is the worlds biggest creditor nation, has slipped about 2% over the last two sessions, its biggst two-day drop since September 2017.

"The JPY has slipped sharply this week and lost more ground overnight as its safe-haven appeal vanishes amid local virus worries," Shaun Osborne, chief FX strategist at Scotiabank in Toronto said in a note.

China reported a drop in new coronavirus infections on Thursday, but scientists warned the pathogen may spread more easily than previously believed as two elderly passengers from a ship quarantined in Tokyo became the latest to die.

A run of dismal economic news out of Japan has stirred talk the country is already in recession.

"The ties to China, exposure to the coronavirus, compounded by Japan's own domestic challenges is bolstering fears that the world's third-largest economy is likely contracting for the second consecutive quarter," said Marc Chandler, chief market strategist at Bannockburn Global Forex.

Against a basket of currencies, the dollar was 0.18% higher at 99.744, just shy of the 100 mark, a level not touched in nearly three years.

Financial markets were little moved by US unemployment data.

The Australian dollar slid to a near 11-year trough as data showing a surprisingly sharp rise in unemployment added to the case for further cuts in interest rates at a time when markets were already skittish over the coronavirus. The Aussie was 0.76% lower against the greenback.

Sterling plunged to a three-month low against the dollar as the greenback's broad-based strength swept away recent pound gains which were driven by the appointment of a new, potentially high-spending British finance minister.

Copyright Reuters, 2020

Comments

Comments are closed.