Forex - Yen weaker, euro stronger vs US dollar in Sydney afternoon ...
SYDNEY (XFN-ASIA) - The US dollar was higher against the yen and lower against the euro in afternoon trading here in volatile trading, with the the focus remaining on equity markets around the world and the unwinding of yen carry trades, dealers said.
At 2.58 pm here (0358 GMT), the dollar was at 116.42 yen, up from 115.25 yen nearly five hours earlier. The euro was at 1.3110 usd up from 1.3088 usd earlier.
Dealers said the release later today of the US January factory orders and fourth-quarter productivity and labor costs figures would provide a distraction if the world's equity markets showed further signs of calming down.
NAB Capital said it expected the euro to gain against the dollar, with small support for the greenback around 1.3130 usd.
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