Euro stronger in Asia after fresh GDP data
AFPTOKYO--The euro strengthened in Asia Thursday after fresh data showed the troubled eurozone had exited a recession in the second quarter.
August 16, 2013, 12:02 am TWN
The single currency fetched US$1.3292 and 130.14 yen in late afternoon Tokyo trade, from US$1.3255 and 130.08 yen in New York on Wednesday.
The dollar changed hands at 97.90 yen, against 98.14 yen, as U.S. retail sales data this week pointed to a still unsteady recovery for the world's largest economy.
Eurozone figures showed that the economy of the 17-country bloc grew 0.3 percent in the three months to June, exiting an 18-month recession.
The zone's biggest economy, Germany, expanded 0.7 percent, while France grew 0.5 percent, well ahead of forecasts for just 0.2 percent.
The results “should at least help to support confidence” in the embattled bloc, National Australia Bank said.
Credit Agricole added that the figures “do not call for additional monetary stimulus at this stage.”
“But the ECB (European Central Bank) will likely keep its dovish bias and aim to provide more clarity in its communication as the recovery, in the early stages, remains fragile and heterogeneous.”
Trading was quite thin in Tokyo with many traders away for a Japanese summer holiday, dealers added.
The dollar was mixed against other Asia-Pacific currencies.
It weakened to 43.73 Philippine pesos from 43.81 pesos the previous day, to 1,117.06
South Korean won from 1,118.95 won and 61.44 Indian rupees from 61.46 rupees.
The greenback also slipped to 31.26 Thai baht from 31.30 baht.
It rose to SG$1.2684 from SG$1.2680 and to 10,325 Indonesian rupiah from 10,313 rupiah.
The Australian dollar gained to 91.75 U.S. cents from 91.02 cents.
The Chinese yuan fetched 15.98 yen against 16.02 yen.