Dollar stabilizes as risks recedes

Earlier risk aversion in international financial markets dwindled, boosting U.S. yields and helping the dollar keep stable after the losses it recorded throughout the week.

The greenback slightly changed trading at 93.822. On Wednesday, the dollar index had inched up overnight to pull away from a four week low of 93.402.

Versus its Japanese counterpart, the dollar rebounded overnight from a one-month low of 112.470 yen. It closed at 112.935 yen. In the course of the week, a decline in investor confidence hindered a surge in international equities and, thus, boosted up the yen against the greenback.

In Wall Street, shares have hovered overnight, resulting at a 4 basis points jump, after remaining sluggish throughout much of the week.

On Thursday, the U.S. House of Representatives authorized a board package of tax reduction sought by President Donald Trump.

Asian shares rise thanks to positive U.S. earnings

Asian shares climbed on Friday on account of strong U.S. earnings and the passing of the tax reform in Congress. However, investors stressed that several more obstacles had to be surpassed to attain a final deal on tax cuts.

Asia Pacific’s broadest index of shares out of Japan, .MIAPJ0000PUS, increased 0.1 percent. The Nikkei 225 rose 0.9 percent, prolonging its recovery from a near three week intraday low hit the previous session.

In the United States, the S&P 500 gained 0.82 percent to turn positive for the week. Nasdaq Composite .IXIC gained 1.3 percent, closing at a record high of 6,793.29.

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