Yen weakens in Asian trade
The yen weakened against other major currencies in Asian morning trade on Friday as risk sentiment improved, with Tokyo stocks bouncing back following the previous day’s seven-percent plunge.
The yen weakened against other major currencies in Asian morning trade on Friday as risk sentiment improved, with Tokyo stocks bouncing back following the previous day’s seven-percent plunge.
The peso was almost unchanged on Wednesday as the market digested reports the Japanese central bank is poised to continue with its heavy bond buying to stimulate the world’s third-biggest economy out deflation.
The peso moved sideways on Tuesday as the market weighed the impact of a central bank’s move to restrict access to its special deposit account (SDA) facility and favorable outlook on the domestic economy.
The dollar eased in Asia on Monday after a Japanese minister said the recent correction against the yen was nearly over, but analysts said the greenback would soon resume its climb.
The peso fell on Thursday following the release of reports that the euro zone contracted in the first quarter and that industrial production in the United States fell in April.
The peso fell on Wednesday amid reports that growth in remittances from overseas-based Filipinos in March was at its slowest since September 2009.
The dollar’s rally against the yen stumbled in Asian trade on Tuesday morning as investors looked for concrete signs that the US Federal Reserve would roll back its huge bond-buying program.
The peso inched up on Wednesday as reports of growing Chinese exports and imports lifted outlook on emerging economies.
The peso inched up on Tuesday amid expectations global liquidity would grow further, supported by low interest rates abroad.
The peso moved sideways on the first trading day of the week as financial markets welcomed the improving employment situation in the United States and as the Philippine Stock Exchange Index corrected from Friday’s historic high.
The peso closed stronger on Thursday after international credit-rating firm Standard & Poor’s raised the Philippines’ credit rating by a notch from junk status to investment grade.
The dollar eased in Asian trade Wednesday as dealers awaited the results of a US Federal Reserve meeting later in the day while poor eurozone data also weighed on the currency.
