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May 26, 2017

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US dollar static ahead of economy data

TOKYO--The dollar was flat in Asia on Tuesday as investors waited on fresh U.S. data for clues on how the world's biggest economy is faring.

The greenback was at 102.54 yen in Tokyo afternoon trade, compared with 102.48 yen in New York Monday afternoon.

The euro bought US$1.3732 and 140.85 yen against US$1.3734 and 140.76 yen, supported by a solid business sentiment survey in Germany and stable eurozone inflation figures.

The dollar will likely be stuck in a tight range of 102.00-103.00 yen during Asian trading on Tuesday, said a senior dealer at a major Japanese trust bank.

Some dollar buying is expected from Japanese importers, but "I don't feel any momentum going on," he told Dow Jones Newswires.

Investors were waiting for further cues on the U.S. economic recovery, following sub-zero winter temperatures in many parts of the country that skewed data at the start of the year.

February consumer confidence figures are due out later in the global day, followed by durable goods orders on Thursday and an updated estimate for fourth-quarter economic growth on Friday.

"We've seen some weak data recently. Any good figures would be taken positively," giving the dollar a tailwind, the Japanese bank dealer said.

The upheaval in Ukraine did not appear to have much impact on the major currencies.

The dollar was slightly lower against other Asia-Pacific currencies.

The greenback slipped to 11,627 Indonesian rupiah from 11,706 rupiah the previous day, to 62.02 Indian rupees from 62.10 rupees, and to SG$1.2622 from SG$1.2672.

It also sank to 32.50 Thai baht from 32.58 baht and to 1,070.77 South Korean won from 1,076.25 won. It bought 44.60 Philippine pesos against 44.63 pesos.

The Australian dollar rose to 90.29 U.S. cents from 89.64 cents, while the Chinese yuan fetched 16.75 yen against 16.77 yen.

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