Sun, Oct 27, 2013 - Page 15 News List

Asian currencies rise on China, US

NOT FOLLOWING:While the yuan, rupiah, ringgit and others saw weekly gains, the won fell after government officials said they would counteract any ‘herd behavior’

Bloomberg and staff writer, with CNA

Elsewhere, India’s rupee weakened 0.3 percent to 61.4600 per US dollar, while Vietnam’s dong gained 0.1 percent to 21,100 and the Philippine peso gained 0.1 percent to 43.035 versus the greenback.

Meanwhile, the US dollar had its first back-to-back weekly losses against the euro in a month as weaker-than-forecast US economic data added to bets the Fed will put off slowing stimulus.

The greenback touched a two-year low against the euro as US employers added fewer jobs than forecast and consumer confidence sagged, while the yen gained for a second week versus the US dollar.

The US currency depreciated 0.8 percent to US$1.3802 per euro this week in New York and touched US$1.3832 on Friday — the weakest level since November 2011 — and declined 0.3 percent to ¥Y97.42.

Europe’s 17-nation shared currency gained 0.5 percent to ¥134.46 in a third weekly advance. It touched ¥135.51 on Tuesday, the highest level since November 2009.

The Bloomberg US Dollar Index fell to an eight-month low on Tuesday after data showed employers added 148,000 workers last month, trailing the forecast for 180,000.

In London, the pound dropped 0.8 percent this week to £85.36 per euro after depreciating to £85.55 on Thursday, the weakest level since Aug. 29.

The UK currency was little changed against the greenback at US$1.6164 after climbing to US$1.6257 on Wednesday, the highest level since Oct. 1.

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