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US dollar rises in Asia on upbeat report

TOKYO--The dollar traded higher against major currencies in Asia on Wednesday following another batch of solid U.S. economic data.

The greenback bought 104.39 yen in Tokyo afternoon trade from 104.27 yen in New York Tuesday afternoon.

The euro bought US$1.3667 against US$1.3681 while fetching 142.68 yen from 142.65 yen.

The November report on U.S. durable goods orders showed a better-than-expected increase of 3.5 percent. That was followed by a report on new home sales in the U.S. that also beat forecasts.

Tuesday's data came on the heels of other recent upbeat U.S. economic reports, which have added fire to sentiment about the world's biggest economy after the Federal Reserve last week moved to scale back its vast stimulus program.

The dollar was likely to be susceptible to moves from Japanese corporate accounts on Christmas day in Asia when there would be fewer big players in the market, a senior dealer at a major Japanese trust bank told Dow Jones Newswires.

The thin trade of the holiday season may make the currency market vulnerable to any unexpected headlines, he said.

The greenback was mostly lower against other Asia-Pacific currencies.

It fell to SG$1.2675 from SG$1.2683 on Tuesday, to 1,059.92 South Korean won from 1,060.45, to 12,201 Indonesian rupiah from 12,225 rupiah, to 32.74 Thai baht from 32.76 baht, and to 61.80 Indian rupees from 61.85 rupees.

It was flat at 44.34 Philippine pesos.

The Australian dollar edged up to 89.23 U.S. cents from 89.12 cents. The Chinese yuan changed hands at 17.19 yen from 17.18 yen.

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