The dollar topped ¥100 for the first time in five months but weakened against other major currencies on Friday as traders assessed the impact of a weak US employment on economic recovery prospects.
At 9pm GMT, the euro fetched US$1.3483 from US$1.3461 late on Thursday in New York.
The dollar meanwhile rose to ¥100.29 from ¥99.52 as investors welcomed the G20 summit pledge to step up efforts to tackle the economic crisis.
“The actions by Washington and leaders of the 20 largest economies have helped to restore risk appetite,” Kathy Lien at Global Forex Trading said.
In late New York trading, the dollar stood at 1.1301 Swiss francs from SF1.1340 on Thursday.
The pound was at US$1.4836 after US$1.4725.
Asian currencies rose for a fifth week, the longest winning streak since October 2007 in the wake of the G20 summit.
Eight of the 10 most active Asian currencies outside Japan advanced in the week after economic reports in China, the US and the UK fueled speculation that demand for regional exports will strengthen.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks their performance, touched a two-month high on Thursday.
The South Korean won advanced 0.6 percent this week to 1,341.50 per dollar, according to data compiled by Bloomberg. The New Taiwan dollar climbed 1.2 percent to NT$33.38 and the Malaysian ringgit strengthened 1 percent to 3.5803.
The MSCI Asia-Pacific Index of regional equities climbed 1.4 percent during the week.
The NT dollar touched an 11-week high on Thursday before paring its advance on reported intervention. The central bank bought at least US$1.2 billion of US dollars on Thursday to counter foreign investors’ and local corporations’ purchases of the Taiwanese currency, the Taipei-based Economic Daily News said on Friday.
Elsewhere, the Singapore dollar climbed 0.6 percent this week to S$1.5051, Indonesia’s rupiah rose 0.2 percent to 11,475 and the Philippine peso gained 0.4 percent to 47.862.
SOLVED: Domestic orders have already overtaken the total sold to China last year, while the Canadian and US representative offices posted messages of support A joint effort by groups and individuals in Taiwan and abroad to prop up sales of pineapples after China announced a ban on imports of the fruit succeeded in just four days, the Council of Agriculture (COA) said yesterday. China on Friday announced that it would suspend imports of Taiwanese pineapples starting on Monday, citing biosafety concerns. Following the announcement, the council urged the public to assist farmers by purchasing pineapples, saying it hoped to sell 20,000 tonnes of the fruit domestically and 30,000 tonnes in exports. “Domestic orders have already surpassed the total sold to China last year,” COA Minister
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Taiwanese netizens and politicians yesterday mocked a Chinese plan to build a transportation network linking Beijing and Taipei, calling it “science fiction” and “daydreaming.” Their comments were in reaction to the Chinese State Council’s release last week of its “Guidelines on the National Comprehensive Transportation Network Plan,” which include several proposed transportation links, with one map showing a line running from China’s Jingjinji Metropolitan Region (Beijing-Tianjin-Hebei) across the Taiwan Strait to Taipei. “This is the Chinese leadership daydreaming again of [fulfilling its] fantasy of extending China’s transportation network to Taiwan. I suggest people regard it as science fiction,” Democratic Progressive
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