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June 23, 2017

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Dollar under pressure in Asia after jobs data

TOKYO--The dollar faced downward pressure in Asia on Monday as investors bet the Federal Reserve will not speed up the pace of tapering of its stimulus program after last week's U.S. jobs report matched forecasts.

The greenback fetched 103.03 yen in Tokyo afternoon trade, compared with 103.26 yen late in New York and well below the 103.88 yen in Tokyo earlier Friday before the jobs data was released.

The euro bought 141.17 yen, down from 141.50 yen in New York on Friday and 142.36 yen on Friday in Tokyo.

Against the dollar, the euro fetched US$1.3701, slightly down from US$1.3704 in U.S. trade.

The dollar was lower against other Asia-Pacific currencies.

It edged down to 60.06 Indian rupees from 60.30 rupees on Friday, to 32.47 Thai baht from 32.54 baht, to SG$1.2600 from SG$1.2637 and to 44.89 Philippine pesos from 45.00 pesos.

It also eased to 1,054.30 South Korean won from 1,054.35 won.

The dollar firmed to 11,285 Indonesian rupiah from 11,309 rupiah.

The Australian dollar inched up to 92.77 U.S. cents from 92.35 cents and the Chinese yuan bought 16.58 yen against 16.68 yen.

In Tokyo, the Bank of Japan started a two-day policy meeting on Monday.

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