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

Bloomberg

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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