Dollar flat in Asia ahead of key data, Fed meeting
July 29, 2014, 12:01 am TWN
TOKYO--The dollar moved narrowly in Asia Monday as simmering geopolitical tensions capped activity while investors look to a slate of U.S. data and a Federal Reserve policy meeting later this week.
In Tokyo afternoon trade, the greenback was quoted at 101.80 yen, slightly down from 101.83 yen in New York Friday.
The euro was also flat at US$1.3429 and 136.73 yen, against US$1.3430 and 136.76 yen, as a closely watched survey showed that concerns over crises in the Ukraine and Middle East dented German business confidence this month.
Currency traders will be keeping an eye on releases from the United States — including jobs and GDP figures — that are expected to show the world's number one economy gaining strength as the central bank exits its stimulus drive.
“There will be plenty for investors to digest in the days ahead and we expect the releases to again show strong momentum in the U.S.,” Credit Agricole said.
“The U.S. dollar is unlikely to extend its gains ahead of Friday's non-farm payrolls,” it added.
Tensions around the jet crash in Ukraine have kept some investors on the sidelines.
Because of heavy shelling in the area observers from the Organization for Security and Cooperation in Europe (OSCE) have been unable to access the site where Malaysia Airlines Flight MH17 came down on July 17, killing 298 people.
The dollar was mixed against other Asia-Pacific currencies.
It eased to 11,577.50 Indonesian rupiah from 11,578 rupiah on Friday, to 31.83 Thai baht from 31.87 baht, and to 60.10 Indian rupees from 60.11 rupees.
The greenback firmed to 43.31 Philippine pesos from 43.30 pesos, to SG$1.2417 from SG$1.2414, and to 1,026.20 South Korean won from 1,026.15 won.
The Australian dollar fell to 93.92 U.S. cents from 94.07 cents, while the Chinese yuan was higher at 16.46 yen against 16.40 yen.