A sudden turnaround in the dollar’s fortunes overnight saw the currency trading broadly higher early in Asia on Friday, but still on track to end softer for a second straight week.
Since the U.S. Federal Reserve’s dovish steer last week, dollar bulls have been much more cautious. But a set of encouraging data on Thursday and a rise in U.S. Treasury yields helped the greenback stage a modest rebound.
The dollar index climbed to 97.397, bouncing off a three-week trough of 96.170. Against the yen, it rallied to 119.28 yen, from a one-month low of 118.33. The euro eased back to $1.0876 from $1.10525, failing to stay above $1.1000 for a fourth time in the past two weeks.
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.