Shanghai shares entered a bull market but other Asian stock markets stuttered on Friday as the dollar rally following Donald Trump's win in the U.S. presidential election dampened demand for emerging market assets.
USD/JPY traded near a 3-1/2-month high early on Friday, extending big overnight gains as the markets prepared for a Donald Trump presidency that could stimulate the U.S. economy fiscally and lift interest rates.
The pair was steady around 106.50 after giving up some ground from its surge to 106.950 overnight, its highest since July 21.
The greenback was on track to end the week on a 3.6 percent gain against its Japanese counterpart, which was initially expected to soar higher after a Trump election win due to its perceived safe-haven status.
The dollar, in the meantime, stood strong against all its rivals. EUR/USD traded around 1.0880 after losing 1 percent overnight. The common currency was on track to fall 2.3 percent on the week.
