US dollar falls as Asian shares continue global rebound

Chinese Yuan vs Dollar

The US dollar declined against most major currencies after soaring for two sessions on Britain’s vote to leave the European Union. While the stock markets in Asia on Wednesday started with more gains, continuing the positive lead set by the US and Europe.

In late New York trading on Tuesday, the euro rose to $1.1046 from $1.1019 in the previous session, while the dollar bought 102.77 Japanese yen, higher than 101.99 in the previous session, Xinhua news agency reported.

Wall Street and bourses across Europe have been recovering some of the ground since Britain on June 24 voted to leave the European Union, BBC reported.

In Japan, the benchmark Nikkei 225 was up by 0.7 per cent to 15,436.07 points.

Carmaker Toyota saw an almost 3 per cent rise despite more recalls over faulty airbags.

Hong Kong’s Hang Seng was up 0.4 per cent to 20,243.67 while the mainland benchmark Shanghai Composite was 0.3 per cent higher at 2,918.53.

Across the rest of Asia, stock markets continued to see gains after the tumultuous losses and the uncertainty in the wake of Britain’s referendum on its EU membership.

 

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