The dollar was stable against the euro in London on Friday, with the single currency hurt by a weak reading on German industrial orders.
The euro in late day trading was at US$1.57 against US$1.5694 late on Thursday. The dollar was likewise unchanged against the yen at ¥106.63 after ¥106.75 on Thursday.
Trading was thin in the absence of activity in the US, where markets were closed for the Independence Day holiday.
The euro trailed the dollar for the most of the day, still feeling the effects of comments on Thursday from the head of the European Central Bank (ECB) suggesting there would be no further eurozone interest rate hikes in the near future.
The bank on Thursday raised its benchmark rate a quarter of a point to 4.25 percent in a bid to curb record eurozone inflation. But ECB President Jean-Claude Trichet later signaled that additional rate hikes were not likely.
In London trading on Friday, the euro changed hands at US$1.5700 against US$1.5694 late on Thursday, ¥167.62 (¥167.55), £0.7924 (£0.7914) and 1.6083 Swiss francs (SF1.6113).
The dollar stood at ¥106.73 (¥106.75) and SF1.0239.
The pound was at US$1.9827 (US$1.9824).
The Philippine peso led losses in Asian currencies this week after inflation last month accelerated to the fastest in 14 years.
The peso, the worst performer in the region in the past three months, traded near the lowest since September.
The Philippine currency fell 1.5 percent to 45.445 as of 4:12pm in Manila on Friday, from 44.75 last Friday, according to Tullett Prebon PLC.
Elsewhere, the New Taiwan dollar was at NT$30.401 from NT$30.388 last week. The Singapore dollar rose 0.1 percent to S$1.3614, the Thai baht gained 0.2 percent to 33.49 and the Indonesian rupiah was unchanged at 9,215, while Vietnam’s dong traded at 16,846.50 compared with 16,843.00 last week.
MORE VISITORS: The Tourism Administration said that it is seeing positive prospects in its efforts to expand the tourism market in North America and Europe Taiwan has been ranked as the cheapest place in the world to travel to this year, based on a list recommended by NerdWallet. The San Francisco-based personal finance company said that Taiwan topped the list of 16 nations it chose for budget travelers because US tourists do not need visas and travelers can easily have a good meal for less than US$10. A bus ride in Taipei costs just under US$0.50, while subway rides start at US$0.60, the firm said, adding that public transportation in Taiwan is easy to navigate. The firm also called Taiwan a “food lover’s paradise,” citing inexpensive breakfast stalls
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
CROSS-STRAIT: The vast majority of Taiwanese support maintaining the ‘status quo,’ while concern is rising about Beijing’s influence operations More than eight out of 10 Taiwanese reject Beijing’s “one country, two systems” framework for cross-strait relations, according to a survey released by the Mainland Affairs Council (MAC) on Thursday. The MAC’s latest quarterly survey found that 84.4 percent of respondents opposed Beijing’s “one country, two systems” formula for handling cross-strait relations — a figure consistent with past polling. Over the past three years, opposition to the framework has remained high, ranging from a low of 83.6 percent in April 2023 to a peak of 89.6 percent in April last year. In the most recent poll, 82.5 percent also rejected China’s
PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to
RSS