Euro at multi-year lows against dollar, yen

The euro touched multi-month lows against the dollar and yen on Wednesday as investors fret about the impact on the eurozone economy of possible fresh sanctions against Russia following the downing of Flight MH17. In late afternoon Tokyo trade, the single currency bought $1.3461 and 136.51 yen, down from $1.3465 and 136.62 yen in New York late Tuesday. However, it was up marginally from the earlier exchanges when it touched $1.3458 at one point, its lowest since November, and 136.40 yen, its weakest level since February. The dollar fetched 101.40 yen compared with 101.45 yen in US trade. The greenback was supported by data showing US inflation slowed in June to 0.3 per cent, from 0.4 per cent in May, suggesting there was no need for the Federal Reserve to raise interest rates sooner than the expected middle of 2015. The rupiah had dropped as low as 11,620 against the dollar late Tuesday but was trading at 11,505 against the greenback on Wednesday. The dollar was mostly down against other Asia-Pacific currencies. It weakened to Sg$1.2392 from Sg$1.2406, to 43.29 Philippine pesos from 43.36 pesos, to 1,024.20 South Korean won from 1,024.73 won, and to 31.75 Thai baht from 31.87 baht. It was flat at 60.19 Indian rupees. The Australian dollar edged up to 94.40 US cents from 93.89 cents, while the Chinese Yuan was lower at 16.34 yen against 16.36 yen, according to AFP.