Asian currencies mixed late<\/p>\n
Netty Ismail, Dow Jones, Singapore<\/p>\n
Asian currencies were mixed late Tuesday as the dollar
\nstruggled to make headway even though the airliner crash in New
\nYork overnight appeared to be an accident, rather than a follow-
\nup to the Sept. 11 terrorist attacks, dealers said.<\/p>\n
Market watchers said it was difficult to accurately assess the
\nfull impact of the plane crash, as some participants stayed away
\nfrom U.S. markets Monday to mark Veterans' Day.<\/p>\n
Whether the crash was in fact an accident or another terrorist
\nattack will go a long way toward determining the impact on
\nalready fragile U.S. consumer confidence and the broader economic
\nconsequences.<\/p>\n
Still, the dollar managed to regain its footing against the
\nyen in Asia Tuesday, after the initial shock of the American
\nAirlines plane crash in New York sent the U.S. currency reeling
\ntemporarily below 120 yen overnight.<\/p>\n
At 0855 GMT, the dollar was quoted at 121.15 yen, above 120.40
\nyen late Monday in New York.<\/p>\n
The South Korean won, the New Taiwan dollar and the Thai baht
\nyielded to the pressure from the yen, although the extent of
\ntheir declines trailed that of the Japanese currency, dealers
\nsaid.<\/p>\n
The Singapore dollar and the Philippine peso were steady,
\nwhile the Indonesian rupiah was slightly firmer.<\/p>\n
The South Korean won reacted with indifference to Standard &
\nPoor's move Tuesday to raise South Korea's sovereign credit
\nratings.<\/p>\n
Instead, the currency felt the pain from the yen's retreat and
\nas foreign investors turned net sellers of equity after their
\nrecent buying spree on the Seoul bourse, dealers said. The dollar
\nended at 1,287.4 won, higher than 1,284.5 won Monday.<\/p>\n
In a widely anticipated move, S&P raised by one notch South
\nKorea's long-term foreign currency ratings to BBB+ from BBB.<\/p>\n
Trading is expected to remain cautious ahead of the
\nannouncement of Taiwan's third-quarter gross domestic product
\ndata Friday.<\/p>\n
The Indonesian rupiah regained its footing with the help of
\nsuspected central bank intervention, dealers said. Late in the
\nday, the dollar was at 10,665 rupiah, slightly lower than 10,685
\nrupiah late Monday.<\/p>\n
The Singapore dollar was steady at S$1.8252 against its U.S.
\ncounterpart, compared with S$1.8253 late Monday, as participants
\nabstained from taking any major positions ahead of a Hindu
\nholiday Wednesday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-currencies-mixed-late-1447893297",
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"sponsor": "Okusi Associates",
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