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More news →Yen firms against dollar and euro in Asia
The yen edged up against the dollar and the euro in Asian trade Tuesday as investors adjusted their positions. The dollar was trading at 81.42 yen in Tokyo morning trade, down from 81.53 yen in New York late Monday. The euro was changing hands at $1.3223 and at 107.58 yen compared with $1.3218 and 107.76 yen. "Although there are risks of a stronger yen coming from position-adjusting after the performances of stock markets in Europe and the United States... the dollar will remain firm against the yen and may reach the 82-yen level," said Masafumi Yamamoto, chief currency strategist at Barclays Capital.
Yen firms on Japan trade surplus
The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade surplus in February, offering some hope for its plodding economy. The dollar eased to 83.13 yen before rebounding to 83.37 yen in Tokyo, still below 83.87 yen in New York late Wednesday. The euro was changing hands at $1.3227 and 110.26 yen compared with $1.3211 and 110.22 yen on Wednesday. Japan logged a trade surplus of 32.9 billion yen ($394 million) in February, after posting a record trade deficit in the previous month, according to official data released just before trading started. The figure beat market forecasts of a 110 billion yen deficit in February, according to a poll by by Dow Jones Newswires and the Nikkei business daily. Immediately after the data was announced, the dollar eased to 83.13 yen from 83.45 yen in earlier trade. The dollar was rising on dip-buying but the upside was knocked by Japan's trade figures, said Marito Ueda, senior managing director at FX Prime Corp.
Euro eases against dollar, yen in Asia
The euro eased against major currencies in Asian trade Tuesday as investors monitored events in Europe, dealers said. The euro bought $1.3015 and 100.20 yen in early Asian trade, easing from $1.3027 and 100.31 yen in New York late Monday. The dollar was at 77.00 yen, almost flat from 76.99 yen. The euro was well supported against the greenback overnight amid reported progress in Greek debt talks and traders continuing to cover short positions in the European currency. But investors remained cautious about the outlook of the European debt crisis.
Euro sags, yen jumps in Asian trade
The euro sagged against other major currencies in Asian trade Monday, as risk-averse investors flocked to the safe-haven yen following weaker-than-expected US jobs data. The European single currency was changing hands at $1.3050 and 106.38 yen Monday, slipping from $1.3070 and 107.53 yen in Tokyo trade on Friday. The dollar was at 81.52 yen, down from 82.27 yen. The Japanese currency rose after official data said February's current account, the broadest measure of Japan's trade with the rest of the world, swung back to surplus from a record deficit in the previous month. Meanwhile, China said its inflation rate rose at a faster-than-expected 3.6 percent in March. US and major European markets were closed for the Good Friday holiday, with many European bourses also closed on Monday. "Trading is thin with many markets closed for holidays Monday," a senior trader at a major Japanese bank told Dow Jones Newswires. The US Labor Department reported Friday that the number of unemployed workers hovered close to 13 million and hiring slowed, a warning sign that an economic recovery for the world's biggest economy may be in trouble. "Risk aversion is strong with higher bond yields in Spain, and Italian bond auctions coming up," said Junichi Ishikawa, forex analyst at IG Market Securities in Tokyo.
Euro falls on debt woes, dollar up against yen
The euro fell against the dollar in Asia on Wednesday amid worries over Europe's debt woes while the greenback hit a 15-week high against the yen after the Bank of Japan's surprise credit easing. The euro slipped to $1.3113 in Tokyo morning trade from $1.3134 late Tuesday in New York after eurozone finance ministers delayed a decision on a new Greek bailout. The dollar rose to 78.67 yen at one point - its highest level since November 1 - from 78.44 yen late Tuesday in New York before easing slightly to sit at 78.48 yen. The euro was flat at 103.02 yen. The European ministers postponed a planned meeting in Brussels set for Wednesday after Athens failed to meet conditions set by lenders in return for a rescue package it desperately needs to avoid default.