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May 26, 2017

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Softbank's Sprint Nextel buyout talks lift US dollar against yen in Asian trade

TOKYO--The U.S. dollar rose against the yen in Asian trade on Friday, lifted by news that Japanese mobile carrier Softbank is in advanced talks on a multibillion-dollar buyout deal with Sprint Nextel.

The dollar was at 78.38 yen in Tokyo afternoon trade against 78.33 yen in New York late Thursday.

The European common currency was changing hands at US$1.2930 against US$1.2926, while it firmed to 101.32 yen from 101.25 yen.

The dollar was lower against other Asia-Pacific currencies.

It fell to 9,604 Indonesian rupiah from 9,627 rupiah on Thursday, to 41.51 Philippine pesos from 41.58 pesos, to 30.65 Thai baht from 30.74 baht and to 1,110.55 South Korean won from 1,115.15 won.

It also eased to SG$1.2214 from SG$1.2293 and to 52.82 Indian rupees from 53.12 rupees.

The Australian dollar bought US$1.0276 from US$1.0277 a day earlier, while China's yuan changed hands at 12.50 yen against 12.39 yen.

The dollar was also supported against the yen after Japanese Finance Minister Koriki Jojima expressed at the Group of Seven meeting in Tokyo concerns about the high levels of the currency, dealers said.

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