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U.S. dollar firms on Obama talk

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U.S. dollar firms on Obama talk

The dollar rose in Asian trade yesterday as investors digested U.S. President Barack Obama's pledge to make job creation a top priority in 2010. The dollar gained to 90.32 yen in Tokyo afternoon trade from 89.94 in New York late Wednesday. The euro slipped to US$1.4010 from US$1.4019 while gaining to 126.56 yen from 126.12.
The focus was on a State of the Union Address by Obama, who vowed to veto any finance bill that does not contain "real reform," as he moves to overhaul the country's banks in the wake of a massive economic crisis. He also said that US$30 billion from a Wall Street bailout fund would be used to help small businesses still reeling from financial crisis.
The speech came after the Federal Reserve gave a rosier outlook on the economy but kept its fed funds rate unchanged in a range of zero to 0.25 percent in order to nurse a still-fragile recovery.
Korean won from 1,159.90 a day earlier, to 1.4032 Singapore dollars from 1.4048 and to 9,375.00 Indonesian rupiah from 9,406.25.
The greenback slipped to 46.62 Philippine pesos from 46.68, and to NT$31.97 from NT$32.04, while rising to 33.07 Thai baht from 33.05.


Updated : 2021-04-19 11:39 GMT+08:00