LONDON: The dollar ticked higher against the yen in Asian trade Thursday as investors position for an expected US rate hike, pushing Japanese stocks higher while most other regional markets were mixed.
The euro got a lift after Greece took another step closer to securing a bailout, while Shanghai extended its latest rally to a sixth day as mainland markets slowly recover from a month-long plunge that wiped trillions off valuations.
Tokyo rose 0.41 percent, Hong Kong added 0.25 percent and Shanghai gained 0.10 percent, while Seoul dipped 0.15 percent and Sydney was flat.
After Wednesday s losses, the greenback resumed its upward trajectory following a strong batch of housing data that reinforces expectations that the Federal Reserve will lift rates soon.
Official figures showed sales of existing homes in the US surged in June to their highest level in more than eight years and prices hit a record high.
“It s not determined yet whether the US rate hikes will be in September or December, but the housing data strengthens the case for a September hike a little,” Mitsushige Akino, executive officer at Ichiyoshi Asset Management Co., told Bloomberg News.
