US dollar holds firm after soaring on Fed minutes
AFPTOKYO--The U.S. dollar held firm against the euro in Asian trade Thursday after leaping on Federal Reserve minutes which suggested the central bank could exit its ultra-loose monetary policy sooner than expected.
February 22, 2013, 12:03 am TWN
The euro bought US$1.3259 in Tokyo afternoon trade, down from US$1.3283 in New York Wednesday afternoon. The single currency fell to 123.91 yen from 124.37 yen.
The U.S. dollar was at 93.50 yen, slightly down from 93.62 yen Wednesday afternoon in New York where the greenback soared on the Fed minutes.
The U.S. dollar slid against the British pound, changing hands at US$1.5191 compared with US$1.5231 in U.S. trade.
The U.S. dollar was mostly up against other Asia-Pacific currencies. It firmed to SG$1.2407 from SG$1.2364 Wednesday, to NT$29.63 from NT$29.55, to 54.45 Indian rupees from 54.03 rupees, and to 1,086.33 South Korean won from 1,077.44 won.
It also firmed to 29.87 Thai baht from 29.84 baht and to 40.67 Philippine pesos from 40.62 pesos.
But it fell to 9,685 Indonesian rupiah from 9,693 rupiah.
The Fed minutes of its latest policy meeting showed divisions over asset purchases to boost the economy.
A “number” of participants said that an ongoing evaluation of the US$85 billion per month asset purchases “might well lead the committee to taper or end its purchases before it judged that a substantial improvement in the outlook for the labor market had occurred,” the Fed minutes said.