Tokyo: The yen rose on Tuesday, recovering from losses suffered the previous day against the euro and the dollar, amid expectations that Prime Minister Sanae Takaichi's expansionary fiscal policy would continue to provide support. The US dollar edged higher against the euro in the previous two sessions as markets awaited signals in the coming days regarding the likely timing of a Federal Reserve interest rate cut.
According to Yemen News Agency, the yen climbed 0.50 percent to 152.80 against the dollar, after falling 0.55 percent the day before, and rose 0.52 percent to 180.97 against the euro, after declining 0.37 percent. However, the Nikkei index fell on Tuesday as investors rushed to take profits and the market calmed following the elections.
The dollar index, which measures the greenback against a basket of currencies, rose to 97.12 after gaining 0.2 percent in the previous session, while the euro slipped 0.05 percent to $1.1843. Sterling weakened today after data showed the number of people seeking employment in Britain rose to a five-year high in December, while wage growth slowed, potentially increasing the likelihood of an interest rate cut by the Bank of England.
The pound was last down 0.35 percent at $1.3582, while the Australian dollar fell 0.05 percent against the US dollar to $0.7069.