Sun, Jan 19, 2014 - Page 15 News List

Bets of more US tapering depress Asian currencies

Bloomberg and staff writer, with CNA

The Bloomberg Dollar Spot Index, which tracks the US currency against 10 major counterparts, rose 0.8 percent this week to 1,032.39 and touched 1,032.84 on Friday, the highest since Sept. 9 last year.

The greenback rose 0.9 percent to US$1.3541 per euro this week, while gaining 0.1 percent to ¥104.32, as the euro fell 0.8 percent to ¥141.25.

The pound strengthened against the euro this week as a government report showed UK retail sales grew at a record pace last month.

The British currency rose 0.5 percent this week to £0.8248 per euro on Friday, after appreciating to £0.8231 on Jan. 9 — the strongest level since last January — while weakening 0.3 percent against the greenback to US$1.6433.

The pound has appreciated at least 2 percent against its major counterparts in the past six months.

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