0
TOKYO: The euro moved narrowly in Asia afternoon trade on Wednesday while the dollar weakened against the yen as investors looked for fresh trading pegs.
The euro bought $1.3326 and 110.44 yen in Tokyo afternoon trade, compared with $1.3315 and 110.71 yen in New York late Tuesday.
The dollar edged down to 82.85 yen from 83.15 yen in New York as Japanese exporters moved to repatriate income by the end of the fiscal year this weekend.
“There hasn't been any major news for the euro here,” noted Kengo Suzuki, currency strategist at Mizuho Securities.
“People are more focused on US dollar/yen flows as trade will be settled within the current fiscal year which ends this week,” he told Dow Jones Newswires, tipping the euro in a range of $1.3250-1.3400.
But Sumino Kamei, senior analyst at the Bank of Tokyo-Mitsubishi UFJ, said: “Since Japanese exporters have bought the yen considerably, it's hard to expect a major movement, thus the dollar/yen is expected to be solid,” she added.
The dollar was mixed against other Asian currencies.
It fell to Sg$1.2569 from Sg$1.2576 on Tuesday, to Tw$29.55 from Tw$29.57 and to 9,175.00 Indonesian rupiah from 9,190.00 rupiah.
The dollar firmed to 1,137.40 South Korean won from 1,135.00 won, to 30.75 Thai baht from 30.70 baht and to 43.03 Philippine pesos from 42.94 pesos.
