The dollar hit a four-year peak against a basket of currencies in early Asian trade on Monday, bolstering Japanese shares, but other Asian shares shrugged off Friday's Wall Street rebound in the face of political unrest in Hong Kong.
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Japanese stocks bounced on Monday and the U.S. dollar held near four-year highs against a basket of currencies, as upbeat U.S. jobs data boosted sentiment after a week of worries about global growth and geopolitical tensions frayed investor nerves.
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World markets were in hesitant mood on Tuesday as investors wondered what China's response would be to civil unrest in Hong Kong, while the U.S. dollar eased off the throttle after its biggest quarterly gain in six years.
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The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.
The dollar held near a four-year high against a basket of currencies on Friday, fueled by the biggest yield advantage over the euro in nearly 15 years as the Federal Reserve contemplates hiking interest rates.
Japan's legions of retail foreign-exchange traders, popularly known as Mrs Watanabe, are turning into sellers of yen.
U.S. stocks ended with sharp losses on Thursday, with the S&P 500 suffering its biggest one-day decline since July, as Apple tumbled and the dollar rose to a four-year high.
The euro hit a 22-month low against the dollar on Thursday on the prospect of diverging monetary policy between the Federal Reserve and the European Central Bank as rate differentials swing decisively in the greenback's favor.
Asian stocks rose early on Thursday, cheered by a sizeable overnight rebound on Wall Street, while the dollar resumed its advance after upbeat economic data undercut safe-haven bids and pushed yields higher.
The yen rose on Wednesday after Japanese Prime Minister Shinzo Abe voiced concern about the economic impact of its fall to a six-year low, adding to the sense of a halt this week in the dollar's record-breaking run since July.
Asian shares slipped on Tuesday as a periodic bout of angst over China combined with the U.S. dollar's recent meteoric run to pile pressure on commodity prices.
Asian shares got off on the back foot on Monday after an uninspiring session on Wall Street, while the dollar gave back a little of its recent solid gains in early trading.
