Euro weakens in Asia

The euro extended its losses in Asia on Friday after the head of the European Central Bank (ECB) signalled he was ready to aggressively loosen monetary policy as the eurozone faces the threat of deflation. The single currency dipped to 142.36 yen in Tokyo from 142.61 yen in New York Thursday, while it weakened to $1.3703 from $1.3717. It is also well down from the 143.02 yen and $1.3763 seen earlier Thursday in Asia. The dollar edged down to 103.88 yen from 103.94 yen in US trade. In a news conference after the ECB held rates at a record low and stood pat on other easing measures, its president Mario Draghi vowed to "act swiftly" if needed to keep falling prices at bay, according to AFP.