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Yen weaker as stocks gain, dollar gains on euro

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NEW YORK — The safe-haven Japanese yen

weakened on Friday as record high stocks showed stronger risk

appetite, while the greenback gained against the euro after data

on Thursday showed solid U.S. economic momentum.

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U.S. stock indexes were driven higher by optimism over

corporate earnings, upbeat economic data and indications of

resilience in China’s economy.

Data on Friday showed that China’s economy ended the year on

a firmer note, even as economic growth cooled to its weakest in

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nearly 30 years.

“December data signaled a strong finish for the Chinese

economy and that suggests the Chinese economy may be primed for

a rebound in 2020,” said Lee Hardman, a currency strategist at

MUFG in London.

The yen rose as high as 110.28, the highest since May,

before falling back to 110.10.

The offshore Chinese yuan also strengthened as far as

6.8567, the strongest since July.

The dollar continued to gain against the euro, after being

buoyed on Thursday by data showing that U.S. retail sales

increased for a third straight month in December.

A gauge of manufacturing activity in the U.S. Mid-Atlantic

region also rebounded in January to its highest level in eight

months.

Data on Friday showed that U.S. manufacturing output rose

unexpectedly in December, though industrial production fell.

The euro was last down 0.32% at $1.1099.

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Currency bid prices at 9:54AM (1454 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Euro/Dollar EUR= $1.1099 $1.1135 -0.32% -0.99% +1.1142 +1.1096

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Dollar/Yen JPY= 110.1000 110.1400 -0.04% +1.14% +110.2800 +110.1000

Euro/Yen EURJPY= 122.20 122.67 -0.38% +0.21% +122.8300 +122.2200

Dollar/Swiss CHF= 0.9680 0.9644 +0.37% +0.02% +0.9689 +0.9646

Sterling/Dollar GBP= 1.3029 1.3076 -0.36% -1.73% +1.3117 +1.3028

Dollar/Canadian CAD= 1.3054 1.3040 +0.11% +0.52% +1.3058 +1.3034

Australian/Doll AUD= 0.6886 0.6898 -0.17% -1.92% +0.6911 +0.6884

ar

Euro/Swiss EURCHF= 1.0745 1.0743 +0.02% -0.99% +1.0757 +1.0736

Euro/Sterling EURGBP= 0.8517 0.8513 +0.05% +0.75% +0.8531 +0.8488

NZ NZD= 0.6621 0.6638 -0.26% -1.74% +0.6650 +0.6616

Dollar/Dollar

Dollar/Norway NOK= 8.9022 8.8859 +0.18% +1.41% +8.9119 +8.8825

Euro/Norway EURNOK= 9.8814 9.8942 -0.13% +0.44% +9.9035 +9.8843

Dollar/Sweden SEK= 9.5041 9.4873 -0.19% +1.68% +9.5056 +9.4817

Euro/Sweden EURSEK= 10.5491 10.5695 -0.19% +0.76% +10.5767 +10.5380

(Additional reporting by Saikat Chatterjee in London

Editing by Nick Zieminski)

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