Dollar Rebounds, Yuan Declines in Monday’s Trade

The dollar clawed back its losses on Monday, having dropped to a two-and-a-half week low against a basket of currencies on Friday following weaker-than-expected US nonfarm payrolls data, while disappointing inflation figures in China weighed on the yuan and proxies.

The US dollar marched higher in Asia trade after tumbling nearly 1% against a basket of currencies on Friday in response to the data and rose particularly against the Japanese yen.

The greenback was last 0.53% higher at 142.98 yen, having slid nearly 1.3% against the Japanese currency on Friday as US Treasury yields eased.

Sterling was at $1.280, after having surged to a more than one-year peak of $1.285 on Friday, while the euro slid 0.14% to $1.09.

The Aussie fell 0.4% to $0.66, while the kiwi slid 0.45% to $0.61.

The offshore yuan fell about 0.1% to 7.24 per dollar, while the onshore yuan was roughly 0.2% lower at 7.23 per dollar.

Source: Qatar News Agency