Asian currencies mixed, trading subdued<\/p>\n
Dow Jones, Singapore<\/p>\n
Most Asian currencies were mixed Monday with trading subdued
\nin some markets after a long holiday weekend.<\/p>\n
The New Taiwan dollar and Philippine peso were virtually
\nunchanged, while the Singapore dollar, Thai baht and South Korean
\nwon weakened. The Indonesian rupiah finished marginally stronger.<\/p>\n
Foreign exchange traders in Singapore, Indonesia and the
\nPhilippines returned to their desks Monday after taking the day
\noff for the Good Friday holiday last week.<\/p>\n
In addition, the fact that markets were closed Monday in Hong
\nKong and several European cities for the extended Easter holiday
\ncontributed to the muted trading, dealers said.<\/p>\n
The yen's weakness against the dollar applied some downward
\npressure to the Singapore dollar and won, but wasn't a major
\nfactor in Asian trading Monday.<\/p>\n
The won slipped despite trade data that provided more evidence
\nKorea's economic recovery is well in hand.<\/p>\n
The government reported that Korea's exports fell 5.2 percent
\nin March from a year ago, compared with a 16.8 percent on-year
\nfall in February. It was the smallest decline in exports since
\nthey fell 2.1 percent in March 2001.<\/p>\n
\"The data might fuel further speculation that the central bank
\nmight move to hike rates at its monthly board meeting this
\nThursday,\" Bank of America said in a note to clients.<\/p>\n
The U.S. dollar closed at 1,327.5 won, up from Friday's close
\nat 1,325.9 won.<\/p>\n
The won opened the day on a strong note, causing some
\nparticipants to take short positions in the dollar. But when
\ninterest in the won began to fizzle at around 1,324.5 won a
\ndollar in line with the softening yen, some players were forced
\nto cover their short positions, helping drive the U.S. currency
\nback up.<\/p>\n
The yen took a hit after a key survey of Japanese business
\nsentiment failed to improve as many analysts had expected it to.<\/p>\n
Late in Asian trading the dollar was quoted at 133.35 yen, up
\nfrom 132.72 yen late Friday in New York.<\/p>\n
Holiday related market closures, as well as a weekend
\nearthquake in Taiwan, kept many foreign exchange players
\nsidelined, dealers said.<\/p>\n
The U.S. dollar closed at NT$35.002 compared with the previous
\nclose of NT$35.000.<\/p>\n
The earthquake, which measured 6.8 on the Richter scale,
\nkilled five people and injured more than 200 Sunday.<\/p>\n
The Singapore dollar experienced some mild selling pressure as
\nthe yen weakened, but demand for the U.S. dollar was limited.<\/p>\n
Near the end of Asian trading the U.S. dollar was quoted at
\nS$1.8475, up from S$1.8390 late Thursday.<\/p>\n
The U.S. dollar drifted higher in line with its gains against
\nthe yen, but interest in the U.S. currency thinned as market
\nparticipants awaited clearer leads.<\/p>\n
The Philippine peso languished with many banks reluctant to
\ntake fresh positions following a long holiday.<\/p>\n
The dollar closed at 51.000 pesos on the Philippine Dealing
\nSystem, almost unchanged from 51.005 pesos Wednesday, the last
\nday of trading last week before the holiday.<\/p>\n
Traders said demand for dollars was subdued and inflows of the
\nU.S. currency were thin.<\/p>\n
The rupiah ended slightly higher as market participants sold
\nthe U.S. dollar following its rebound late last week.<\/p>\n
The dollar closed at Rp 9,766, down from its close Thursday at
\nRp 9,820. The dollar fell to an intraday low of Rp 9,675 before
\nlocal companies snatched up the unit on dips.<\/p>\n
The baht traded in a narrow range following comments from
\ncentral bank officials that a competitive currency was key to
\nexport competitiveness.<\/p>\n
The dollar finished Asian trading at 43.600 baht, up from
\n43.485 baht late Friday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-currencies-mixed-trading-subdued-1447893297",
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