By Gina Lee

Investing.com – The dollar was up in early trading Tuesday morning in Asia, following a high reached overnight during the U.S. trading session.

According to reports from China, the strengthening of the dollar is a result of reports that the government might shift its attention away from stricter regulation in sectors it concerns and toward boosting growth.

As the curve grew steeper and shorter-term bonds climbed, so did the dollar. By 9:30 ET (02:01 GMT), the index that measures the dollar against other currencies had risen 0.04%, to 93.84 (01:30 GMT).

It was up 0.4% at 113.85. After crossing the 114 mark last week, the yen is now stronger against the USD. Japan’s for September rose 0.9% year-on-year compared to an expected increase of 1% and a similar increase in August.

As South Korea’s growth slows, the pair dropped by 0.2% to 1,164.94. Bank of Korea data showed that the country’s rose 0.3% during the third quarter of the year, compared to the previous quarter. A Reuters survey showed that 0.6% was the projected growth.

Both rose 0.18%, to 0.7503, while the pair rose by 0.07%, to 0.7165. The ANZ-Roy Morgan Australia Consumer Confidence Weekly Index fell to 106.8 from 107.

It fell to 6.3820 by 0.06%

China’s concerns are growing that power supply shortages may lead to product shortages or production stops, which can have an adverse effect on China’s growth.

Xinhua News Agency reported an outline of the government’s strategy to deal with the 10 most pressing challenges for the country’s economy. The report provided hints as to the policy direction that the country’s leaders could take during a series of meetings over the next few weeks, including a plenary session of the 19th Central Committee next month and the Central Economic Work Conference.

Xinhua reports that the new priorities for the coming year are to increase private consumption, investment and savings, following a slowdown in growth of 4.9% to the end of the third quarter.

“Consumption and investment are the ‘two engines’ to reach larger domestic demand,” said Xinhua as quoted by the South China Morning Post.

This pair dropped 0.06% from 1.3759.