Dollar eases against yen in Asia
Tuesday, 22 December 2009
TOKYO, Dec 21 (AFP): The dollar fell against the yen in Asian trade Monday as traders locked in recent gains, while heightened concerns about Europe's debt woes weighed on the euro, dealers said.
The dollar eased to 90.29 yen in Tokyo afternoon trade from 90.40 in New York late Friday. The euro slipped to 1.4341 dollars from 1.4343 and to 129.48 yen from 129.65.
The dollar was supported against the euro by recent upbeat US economic data that contrasted with gloomy news from Europe, where worries are growing that government debt problems may threaten an economic recovery, dealers said.
"US equities have been rising and the market's hopes for a recovery is what has been driving the dollar and caused investors to focus on the greenback," said Chuo Mitsui Trust Bank head of forex Yosuke Hosokawa.
"Investors will be focusing on more economic data. In Europe, compared with the US, there have been more worries over monetary policies or public finances. But at the same time, it's not as if all European members are in that situation, so it is hard for investors to find trading cues."
In the US, home sales and durable goods orders are among the economic indicators due to be released this week.
The dollar eased to 90.29 yen in Tokyo afternoon trade from 90.40 in New York late Friday. The euro slipped to 1.4341 dollars from 1.4343 and to 129.48 yen from 129.65.
The dollar was supported against the euro by recent upbeat US economic data that contrasted with gloomy news from Europe, where worries are growing that government debt problems may threaten an economic recovery, dealers said.
"US equities have been rising and the market's hopes for a recovery is what has been driving the dollar and caused investors to focus on the greenback," said Chuo Mitsui Trust Bank head of forex Yosuke Hosokawa.
"Investors will be focusing on more economic data. In Europe, compared with the US, there have been more worries over monetary policies or public finances. But at the same time, it's not as if all European members are in that situation, so it is hard for investors to find trading cues."
In the US, home sales and durable goods orders are among the economic indicators due to be released this week.