Dollar rebounds against yen as risk appetite recovers

The dollar rebounded from four-week lows against the yen on Thursday, as global markets regained some of their risk appetite after a sharp sell-off in stocks and the greenback over the past week.

As share prices rebounded across Asia and Europe, the dollar climbed around 0.2 per cent to 113.09 yen, up from lows of 112.47 yen on Wednesday.

But against a basket of currencies, the greenback was flat, having fallen to its lowest in almost four weeks on Wednesday, reports Reuters.

The euro also traded flat at $1.1793, having recovered around 1.0 per cent so far on the week and having reached as high as $1.1862 on Wednesday, its best level in over one month.

The Australian dollar bounced from near five-month lows as a mostly upbeat local employment report triggered a round of short-covering.

The Aussie traded up 0.1 per cent at $0.7597, almost flat on the day, having plumbed a low of $0.7567, a trough last seen in late June.