|02:25 EDT||FX Update: The dollar has consolidated Wednesday's losses |
FX Update: The dollar has consolidated Wednesday's losses seen after soggy U.S. PPI and retail sales data. Asian stocks continued to tumble, and another risk-off day looks likely in Europe amid fears about Ebola, which is inviting comparisons to the economically disruptive SARS outbreak in Asia in 2003. This backdrop may curtail dollar losses. EUR-USD has trod a narrow range in the low 1.28s before dipping below here in early London trade, putting yesterday's three-week peak at 1.2886 out of scope. USD-JPY has posted a narrow range in the low 106s, near to the New York closing level and some way above yesterday's five-week low at 105.19. BoJ policymaker Iwata said that monetary easing is working.