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May 26, 2017

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Euro stays weak in Asia ahead of ECB meeting

TOKYO--The euro stayed weak against the dollar in Asia on Tuesday as investors awaited eurozone data and a monthly policy meeting of the European Central Bank (ECB).

The euro bought US$1.3420 in Tokyo afternoon trade against US$1.3421 in New York late Monday, while buying 137.61 yen against 137.64 yen in U.S. trade.

The dollar was at 102.53 yen against 102.56 yen in U.S. trade.

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

It fell to 32.11 Thai baht from 32.15 baht on Monday, to SG$1.2454 from SG$1.2464, to 1,031.75 South Korean won from 1,033.01 won and to 11,727.50 Indonesian rupiah from 11,740.00 rupiah.

The dollar declined to 60.91 Indian rupees from 60.99 rupees and to 43.54 Philippine pesos from 43.69 pesos, while remaining unchanged at NT$29.99.

The Australian dollar climbed to 93.24 U.S. cents from 93.19 cents, while the Chinese yuan bought 16.60 yen against 16.58 yen.

The eurozone services purchasing managers' index and retail sales figures to be released later Tuesday are set to "confirm the on-going improvement in domestic demand," Credit Agricole said in a note.

The ECB is widely expected to hold fire on further easing measures when it holds a policy meeting on Thursday.

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