REUTERS – Most Asian currencies edged up against the dollar on Tuesday, though the same global developments that hurt the greenback also reduced risk appetites for cautious investors.
Against the yen, the dollar was down 0.6 percent to 109.770 yen, its lowest since April 25.
Investors were worried about the Middle East and terror attacks, and were awaiting the British election, a policy meeting of the European Central Bank and congressional testimony in Washington of former FBI director James Comey – all on Thursday.
“It is a pretty stressful week for the traders as we get towards these hard points such as the ECB policy meeting, UK elections and upcoming Comey testimony” said Stephen Innes, senior trader at OANDA.
“People are getting a little bit nervous about not only holding U.S. dollar but generally the global landscape now.”
Despite a drop in oil prices, the Malaysian ringgit registered a rise for the third consecutive day. Some analysts said the escalating tensions in the Middle East could benefit Malaysia’s LNG exports.
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