Sun, May 19, 2013 - Page 15 News List

Asian currencies drop on worries over competition

YEN WEAKNESS:The NT dollar and the won led the decline amid speculation that central banks would intervene to keep the two currencies competitive


The US currency strengthened 1.2 percent to US$1.2839 per euro this week in New York. It touched US$1.2797 on Friday, the strongest since April 4. The dollar appreciated 1.6 percent to ¥103.21 and touched ¥103.31, the strongest level since October 2008. Japan’s currency fell 0.4 percent to ¥132.51 per euro.

The pound fell 1.2 percent in the week to US$1.5170 at 5:15pm London time on Friday after dropping to US$1.5158, the lowest level since April 4. Sterling was at £0.8449 per euro, from £0.8457 on May 10.

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