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Dollar mixed in Asian holiday trade


Agence France-Presse
First Posted 11:26:00 12/25/2009

Filed Under: Foreign Exchange Markets, Stock Activity

TOKYO?(UPDATE) The dollar was mixed in quiet holiday trade in Asia Friday as investors reacted calmly to the latest economic data from the United States and Japan, dealers said.

The dollar was at 91.47 yen in Tokyo afternoon trade, compared with 91.46 in New York late Thursday. The euro firmed to $1.4385 from $1.4356 and to 131.60 yen from 131.32.

"There is very little movement due to the Christmas holiday. Economic indicators in the US and Japan have had little impact on market sentiment," said Societe Generale forex strategist Kenichi Yumoto.

Markets gave a tepid response to news that orders for US manufactured durable goods edged up 0.2 percent in November, led by a strong rise in demand for computers and electronics products.

Although positive, the report was weaker than market expectations and followed disappointing data earlier this week on new US home sales and consumer spending.

New US claims for jobless benefits dropped to the lowest level since September 2008 but analysts said the data might have been affected by the seasonal holidays.

In Japan, the unemployment rate rose to 5.2 percent in November from 5.1 percent in October, worsening for the first time in four months, the government said. But the report was in line with market expectations.

Japan's core consumer prices fell 1.7 percent in November from a year earlier, the ninth straight month of drops, fanning worries that deflation could hinder a fragile recovery in Asia's biggest economy.

Against Asian currencies, the dollar fell to 1.4064 Singapore dollars from 1.4074 a day earlier, to 1,174.60 South Korean won from 1,177.50, to 9,480 Indonesian rupiah from 9,485 and to 32.25 Taiwan dollars from 32.26.

The greenback rose to 33.38 Thai baht from 33.36 while holding steady at P46.51.



Copyright 2012 Agence France-Presse. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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