Cooler mood on China helps dollar gain

January 8, 2016 10:04 AM

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Cooler mood on China helps dollar gain

The dollar rose more than half a per cent against both the euro and yen on Friday as measures taken by China to ease this week’s market turmoil helped steady investors’ nerves over market moves there and China’s influence on global financial stability.

The yuan, down by as much as 3 per cent in offshore trading this week, steadied, with dealers reporting both outright intervention by China through state-owned banks and temporary bans on Chinese banks selling dollars.

Also read: China Growth Holds Steady at 6.7% in Third Quarter

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