TOKYO – The dollar remained weak against the yen and euro in Asian trade Thursday, a day after risk appetite that benefits the European currency was boosted on upbeat US economic indicators, dealers said.

The euro traded at $1.5127 in Tokyo morning trade, flat from New York late Wednesday, where it hit a 15-month high of $1.5144.

Against the Japanese currency, the dollar was quoted at 87.37 yen, barely changed from 87.38 yen in New York, near a 14-year low.

Investors were encouraged by economic reports from the United States, where the Federal Reserve has cut interest rates to nearly zero percent.

US government data Wednesday showed US consumer spending jumped 0.7 percent in October, helped by a rebound in auto sales, and initial claims for jobless insurance benefits fell to their lowest since September last year.

Analysts said this brightened the economic outlook and encouraged investors to take on more risk. The euro is traditionally viewed as a riskier currency than the dollar and tends to rise on signs of economic strength.

Optimistic remarks by Australia's central bank Wednesday also shored up the strength of the currencies of resource-rich countries, prompting sales of the dollar against major currencies, analysts said.

Deputy Reserve Bank of Australia governor Ric Battellino said Wednesday the economy had emerged from the global financial crisis much better than expected, thanks largely to Asian demand for its commodities.

With US markets closed for the Thanksgiving Day holiday on Thursday, traders were closely watching Japan for any signs the government could shift on its current stance of not intervening in currency markets.

"The market focus shifted to the stance of Japanese authorities concerning the strength of the yen," Barkleys Capital said in a note to clients.

The note said a strong yen hurts Japanese exports and therefore its economy and stock market, and could harm support for the government.

"There is some room for the Japanese authorities to change their past stance of permitting a strong yen," Barkleys Capital said.