Nikkei's 3-day winning streak ended by profit-taking as yen firms [Reuters]
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Source: Reuters
Nikkei's 3-day winning streak ended by profit-taking as yen firms | Reuters 3 Min Read * Exporters sold hit by strong yen * Nikkei had gained 4.37 pct over the past 3 days * Yaskawa’s earnings focused after close By Ayai Tomisawa TOKYO, Jan 10 (Reuters) - Japan’s Nikkei dropped on Thursday as gains in the yen prompted investors to take profits following a strong rally. After rising 4.37 percent in the last three days, the Nikkei share average ended 1.3 percent lower at 20,163.80. The Nikkei has rebounded from a low of 18,948.58 hit on Dec. 26, its lowest since April 2017, but its upside remains limited, analysts said. “The market condition hasn’t changed fundamentally since then and investors are still on edge amid global concerns,” said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management. The dollar was under pressure partly because of growing expectations the U.S. Federal Reserve will pause its rate tightening cycle this year. The greenback fell 0.2 percent to
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