SINGAPORE- The dollar found a footing in Asia on Thursday, pausing the week’s slide as a slump in tech and social media stocks soured appetite for riskier currencies, and as traders awaited central bank meetings in Britain and Europe.
The risk-sensitive Australian and New Zealand dollars fell slightly in morning trade. Sterling and the euro did not extend recent gains, and the common currency was marginally weaker at $1.1297. The yen held at 114.41 per dollar.
Shares in Facebook owner Meta plunged more than 20 percent after the bell as earnings and the outlook fell short of expectations.
Shares in Twitter and Spotify also fell and Nasdaq 100 futures dropped 2 percent, dragging on demand for currencies like the Andipodeans, said Westpac analyst ImreSpeizer in Christchurch.
The Aussie was last down 0.2 percent at $0.7120, shy of resistance at $0.7180. The kiwi was 0.1 percent lower at $0.6625.
Trade in Asia was lightened by a holiday in China.
Policy decisions from the Bank of England (BoE) and European Central Bank (ECB) are due at 1200 GMT and 1245 GMT respectively, and a news conference with ECB President Christine Lagarde is scheduled at 1330 GMT. – Reuters
