Investing.com - The dollar remained broadly higher against the other major currencies on Wednesday, as upbeat Chinese trade data and stability in Asian markets lifted market sentiment.
USD/JPY gained 0.42% to 118.16, off Monday’s more than four-month trough of 116.68.
China’s central bank fixed the midpoint rate for the yuan at levels close to the fix of the previous two days, easing concerns over the rapid depreciation of the currency seen at the start of the year.
At the same time, official figures showed that Chinese exports rose 2.3% in yuan-denominated terms in December from a year earlier, rebounding from a 3.7% drop in November.
Exports were down 1.4% on a year-over-year basis in December in dollar terms, compared to forecasts for a drop of 8.0%.
Imports fell by 4% in yuan terms, after a 5.6% drop in November. In dollar terms, imports fell 7.6% from a year earlier, better than forecasts for an 11.5% decline.
The data indicated that the Chinese economy may be stabilizing, easing fears over a China-led slowdown in global growth.
EUR/USD slid 0.37% to 1.0821.
Elsewhere, the dollar was higher against the pound, with GBP/USD down 0.17% to 1.4423, off the previous session’s five-year low of 1.4349, and with USD/CHF advancing 0.80% to 1.0103.
The Australian and New Zealand dollars were stronger, with AUD/USD up 0.46% at 0.7018 and with NZD/USD adding 0.14% to 0.6547.
Meanwhile, USD/CAD fell 0.27% to 1.4224, still close to Tuesday’s fresh 12-1/2 year highs of 1.4315.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.26% at 99.28.