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Dollar falls against yen, other currencies in Asia, inches up vs euro

Dollar falls against yen, other currencies in Asia, inches up vs euro

The dollar was lower against the yen and most other regional currencies in Asia on Thursday, while it recouped part of its recent losses against the euro.
The dollar bought 106.32 yen at midafternoon Thursday, down from 106.45 yen late Wednesday in New York.
The euro slipped to US$1.5113 from US$1.5120. On Wednesday, it broke above $1.50 for the first time since it was introduced in 1999.
Despite its slight recovery overnight against the euro, the dollar is likely to fall back in the coming days because of lingering pessimism about U.S. economic prospects, traders said.
"The dollar is a sell," said Shuichi Kanehira, a senior dealer at Mizuho Corporate Bank. "The question would be what currencies you buy in exchange for the dollar."
One popular choice is the euro because many players have bullish views about European economies, in contrast to their bleak assessment of the U.S.
The euro, whose overnight slip was mainly due to profit-taking by short-term players, is expected to rise again toward new highs, traders said.
The dollar was mostly lower against other regional currencies. It fell 0.13 percent against Singapore dollar to 1.3948; 0.43 percent against South Korean won to 936.9; and 0.03 percent against Taiwan dollar to 30.885. The U.S. currency, however, rose 0.47 percent against the Philippine peso to 40.350 and 0.19 percent against Indonesian rupiah to 9,070.


Updated : 2021-02-27 09:05 GMT+08:00