Euro weakens in Asia ahead of German ruling on bailout fund
September 11, 2012, 12:03 am TWN
TOKYO -- The euro weakened in Asia on Monday as markets await a key German court ruling on the eurozone's bailout fund, after the European Central Bank unveiled a fresh plan to help ailing eurozone states.
The common currency bought US$1.2784 in Tokyo afternoon trade from US$1.2811 in New York late Friday, while it slipped to 100.00 yen from 100.21 yen.
The dollar was quoted at 78.22 yen, slightly up from 78.20 yen in U.S. trade.
On Friday, the euro jumped above 100 yen for the first time in two months after the ECB said it would buy bonds from troubled eurozone nations in a bid to bring down their heavy borrowing costs and prop up the currency.
The dollar was lower against other Asia-Pacific currencies.
It fell to SG$1.2353 from SG$1.2429 on Friday, to 1,128.85 South Korean won from 1,130.05 won and to 41.60 Philippine pesos from 41.75 pesos.
The greenback slipped to 31.07 Thai baht from 31.25 baht, to 55.31 Indian rupees from 55.61 rupees and to 9,578 Indonesian rupiah from 9,592 rupiah.
China's yuan bought 12.34 yen against 12.44 yen, while the Australian dollar was at US$1.0366 from US$1.0314.