Dollar ticks up

TOKYO: The dollar rose against the yen and euro on Wednesday as Chinese authorities moved to shore up the world´s number two economy and reverse a global stock market bloodbath.
In Tokyo, the dollar changed hands at 119.62 yen, up from 118.84 yen in New York late Tuesday, as investor confidence picked up.
Fears over slowing growth in China had pushed traders into the yen -- a safe haven during times of turmoil -- sending the dollar tumbling to 116.18 yen this week, its lowest level since February. In other trading Wednesday, the euro gave up early gains to buy $1.1481 against $1.1518 in US trading, while it fetched 137.34 yen, compared with 136.87 yen in New York. China on Tuesday cut interest rates and lowered how much cash banks must hold for the second time in as many months in the latest effort to stem an equities rout that began in June.
US stocks finished lower for the sixth straight session Tuesday, with the Dow posting another triple-digit decline after a morning rally fizzled.
Tokyo led a broad Asian market recovery on Wednesday, although dealers remained nervous and trade was choppy, with the benchmark Nikkei 225 ending 3.20 percent higher after six days of China-linked losses.