Southeast Asian currencies mixed against U.S. dollar<\/p>\n
SINGAPORE (Dow Jones): Southeast Asian currencies were mixed
\nagainst the U.S. dollar in late trading on Friday, a suitable end
\nto a lackluster week of trading in the region, traders said.<\/p>\n
The Thai baht did manage to edge up to a 58-week high Thursday
\nand the Singapore dollar fell sharply Friday, but \"there wasn't
\nmuch movement overall, because of the Japanese and U.S. holidays
\nthis week, and the fact that many traders and banks are on the
\nsideline for the remainder of the year,\" said Jean Wee, a
\nregional analyst for Sanwa Bank in Singapore. She said next week
\nshould feature more of \"the same kind of stability and a slight
\ndecoupling from the (U.S.) dollar-yen.\"<\/p>\n
Ryan Padgett, treasurer at Bank Brussels Lambert, said the big
\nquestion at the moment is, as usual, the health of the U.S.
\neconomy.<\/p>\n
For the moment, signs of a yen-decoupling already have been
\nseen, especially in the Thai baht, which managed to nip below 36
\nbaht to the U.S dollar Thursday, for the first time in more than
\na year. The market tried to push the U.S. dollar lower Friday,
\nbut met firm resistance at 35.97 baht, traders said.<\/p>\n
In a late Asian trading, the U.S. dollar was trading at 36.12
\nbaht, well up from 36.02 baht late Thursday but down from 36.15
\nbaht last Friday.<\/p>\n
On the Philippines Dealing System, the U.S. dollar was trading
\nat 39.44 pesos, down from 36.49 pesos late Thursday and well down
\nfrom 39.61 pesos last week, as the news about foreign capital
\ninflows and economic performance was good.<\/p>\n
The U.S. dollar was also trading at Rp 7,475, almost unchanged
\nfrom Rp 7,450 in late trading Thursday but lower than Rp 7,525
\nlast Friday.<\/p>\n
In Singapore, the currency had been given the same tight-range
\nprognosis by traders earlier this week, but the republic's dollar
\nseems inexorably linked to the fortunes of the yen.<\/p>\n
Even when worrying domestic figures are released, the timing
\nof the release seems to be when the yen is embarking on another
\nslide against the U.S. dollar.<\/p>\n
In late trading, the U.S. dollar was trading at S$1.6542, well
\nup from S$1.6462 late Thursday and significantly higher than last
\nFriday when the U.S. dollar was quoted at S$1.6290.<\/p>\n
The U.S. dollar's ascent against the Singapore dollar Friday
\nwas precipitated by the yen's fall and the release of domestic
\nfinancial sector figures, traders and economists said, showing
\nthat Singapore banks had an aggregate exposure of S$35.8 billion
\n-- or 14.5 percent of total assets -- to Malaysia, Indonesia,
\nThailand, South Korea and the Philippines, as of Sept. 30,
\naccording to the Monetary Authority of Singapore.<\/p>\n
In North Asia, the U.S. dollar was trading at 32.422 new
\nTaiwan dollars, down from NT$32.482 late Thursday but above
\nNT$32.414 last Friday in late Asian trading. The U.S. dollar was
\nalso trading at 1,241 won, up a touch from 1,240 won late
\nThursday, but down from 1,261 won last Friday.<\/p>\n
In late trading in Tokyo, the dollar was trading at 122.85-88
\nyen, up from 122.45-47 yen six hours earlier. The dollar traded
\nat 122.16 yen in London and 121.91-94 yen here late Thursday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/southeast-asian-currencies-mixed-against-us-dollar-1447893297",
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