SINGAPORE, Sept 7 Reuters A buoyant dollar pushed the yen to a 10month trough on Thursday and kept the euro and sterling pinned near threemonth lows, as investors placed their faith in a stillresilient U.S. economy even amid a dour global growth outlook.
A lowerthanexpected fall in China39;s exports and imports numbers in August did little to lift investors39; spirits, as they remain on the lookout for further support measures from Beijing to shore up the economy and revive market confidence.
The greenback scaled a fresh top of 147.875 yen in early Asia trade, its highest since last November.
Against a basket of currencies, the dollar rose 0.05 to 104.91, holding on to some of its gains from the previous session after scaling a sixmonth peak as the U.S. services sector unexpectedly gained steam in August.
The euro was last 0.09 lower at 1.0718, after having fallen to its lowest since June on Wednesday. Sterling slipped 0.06 to 1.2500, having also bottomed at a threemonth trough in the previous session.
Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia, said the Institute for Supply Management39;s U.S. nonmanufacturing PMI reading was positive.
Those thinking of a U.S. recession in the near term might be a little bit disappointed, he said. However, the Beige Book … wasn39;t that great, actually.
U.S. economic growth was modest in recent weeks, job growth was subdued, and inflation slowed in most parts of the…