Euro under pressure in Asia after rally over Fed minutes
AFPTOKYO--The euro edged up Friday but remained under pressure in Asia Friday on continued investor pessimism over Europe's prospects, while speculation about an end to U.S. monetary easing added to the trend.
February 23, 2013, 12:01 am TWN
In afternoon Tokyo trade, the single currency bought US$1.3212, up from US$1.3188 in New York Thursday but well short of the US$1.3350 on Monday as it has weakened through the week.
The single currency was hit Thursday after a leading eurozone growth indicator showed private business activity hit a two-month low in February.
“Weakness of the European and U.S. data have boosted the yen and the U.S. dollar, while investors dumped European currencies,” Barclays said in a note.
The U.S. dollar fetched 93.27 yen, compared with 93.11 yen in New York. Against the yen, the euro bought 123.22 yen from 122.81 yen.
The dollar was mixed against other Asia-Pacific currencies. It weakened to SG$1.2380 from SG$1.2407 Thursday, to NT$29.59 from NT$29.63 and to 1,084.68 South Korean won from 1,086.33 won.
It also slipped to 29.82 Thai baht from 29.87 baht but rose to 40.72 Philippine pesos from 40.67 pesos and to 9,708 Indonesian rupiah from 9,685 rupiah. The greenback was flat at 54.45 Indian rupees.