Key Asian currencies weaken against dollar
Monday, 2 June 2008
HONG KONG, June 1 (AFP): Key Asian currencies ended the week mainly down against the US dollar as sentiment over the US economy brightened, but the Australian dollar remained near record highs.
Japanese Yen: The yen fell back against the dollar as US economic prospects improved due to the release of better- than- expected data on US gross domestic product and durable goods orders.
The Japanese unit stood at 105.44-47 to the dollar here late Friday, down from 103.87-90 to the dollar a week earlier. It briefly touched a three-month low of 105.88 to the dollar in New York Thursday.
The greenback got a boost Thursday after first-quarter US growth was revised to a 0.9 per cent annual pace from the initial estimate of 0.6 per cent.
Australian Dollar: The Australian dollar is expected to remain buoyant next week on expectations of further domestic interest rates rises, dealers said.
The Australian dollar was trading at 95.58 US cents at 5.00 pm (0800 GMT) Friday, down slightly on the previous week's 95.92 US cents.
NZ Dollar: The New Zealand dollar ended local trading Friday at 78.07 US cents, down from 78.56 at the end of the previous week.
Chinese Yuan: The yuan closed at 6.9434 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.9358, and a closing price of 6.9418 to the dollar last Friday.
Singapore Dollar: The dollar was at 1.3660 Singapore dollars Friday from 1.3605 the previous week.
Japanese Yen: The yen fell back against the dollar as US economic prospects improved due to the release of better- than- expected data on US gross domestic product and durable goods orders.
The Japanese unit stood at 105.44-47 to the dollar here late Friday, down from 103.87-90 to the dollar a week earlier. It briefly touched a three-month low of 105.88 to the dollar in New York Thursday.
The greenback got a boost Thursday after first-quarter US growth was revised to a 0.9 per cent annual pace from the initial estimate of 0.6 per cent.
Australian Dollar: The Australian dollar is expected to remain buoyant next week on expectations of further domestic interest rates rises, dealers said.
The Australian dollar was trading at 95.58 US cents at 5.00 pm (0800 GMT) Friday, down slightly on the previous week's 95.92 US cents.
NZ Dollar: The New Zealand dollar ended local trading Friday at 78.07 US cents, down from 78.56 at the end of the previous week.
Chinese Yuan: The yuan closed at 6.9434 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 6.9358, and a closing price of 6.9418 to the dollar last Friday.
Singapore Dollar: The dollar was at 1.3660 Singapore dollars Friday from 1.3605 the previous week.