XE Market Analysis: Europe – Jul 04, 2018

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The dollar traded softer, led be declines against the yen, Australian dollar and most emerging world economies, which seemed to benefit from China’s steadying of the yuan today. USD-JPY opened in Asia at about 110.58-60, then dipped to a four-session low of 110.27 before setting around 110.40. Stock markets in Asia mostly declined, which follows a tech-led drop on Wall Street yesterday. China’s yuan steadied after declining notably last week, and on Monday and Tuesday, amid reports that it was at the direction of Beijing. Most emerging market currencies also gained.