Asian forex, commodity mkt update
Monday, 24 February 2014
The dollar stood at 102.35 yen in afternoon trade in Asia, down from 102.49 yen in New York Friday. The euro was at $1.3765 and 140.89 yen, compared with $1.3734 and 141.00 yen. Oil prices rebounded in Asia owing to strong US demand driven by prolonged sub-zero temperatures across much of the country and geopolitical worries. New York's main contract, West Texas Intermediate for April delivery, gained 22 cents to $102.42 in afternoon Asian trade. Brent North Sea crude for April rose 20 cents to $110.05. Gold fetched $1,329.67 an ounce at 0905 GMT, after striking $1,332.45 late Friday -- the highest point since October 31 -- driven by strong Asian demand, according to AFP.