The U.S. dollar gained on the yen on Monday as investors relaxed safe-haven trades in the wake of the failed coup in Turkey. The Turkish lira regained some strength, with the dollar down 2.75 percent at 2.9360, reversing much of the gains it made late on Friday when it topped around 3.0476. Turkey seemed to have taken control of the country and the economy and is currently cracking down on suspected supporters of the failed military coup. The dollar was at 105.50 yen after briefly hitting as low as 104.63 late Friday, while the euro had steadied at $1.1068 after gapping as low as $1.1021 at the end of Friday’s trading.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent, its highest in almost nine months last week. And Australia rose 0.5 percent while the Shanghai Composite Index was flat.
Oil futures for UK shares FF1c1 rose 0.5 percent, with the French contract FCEc1 adding 0.2 percent.
Oil Prices Up
Oil prices in the U.S. inched higher, with Brent crude LCOc1 up 19 cents at $47.80 a barrel, while NYMEX crude CLc1 added 4 cents to $45.99. Also in the U.S. prices for U.S. Treasuries were down slightly with yields on the 10-year note edging up to 1.56 percent. In commodity markets, spot gold eased to $1,328.16 per ounce.
The biggest mover was the New Zealand dollar which slipped when domestic inflation data showed a surprisingly soft rise of 0.4 percent in the year to June. The kiwi slid half a U.S. cent to $0.7086 as prospects of a rate cut by the Reserve Bank of New Zealand next month dwindled.