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.
ANTI-SHIP CONFIGURATION: The Tuo Chiang-class vessels are to be built for NT$9.7 billion by Lung Teh, a shipyard that previously built four similar corvettes for the navy The Ministry of National Defense on Wednesday awarded Lung Teh Shipbuilding (龍德造船) a NT$9.7 billion Co (US$317.57 million) contract to build five Tuo Chiang-class corvettes with anti-ship capabilities, a defense official familiar with the matter said yesterday. The corvettes would carry vertical launchers for four Hsiung Feng II (HF-2) missiles, as well as eight Hsiung Feng III (HF-3) anti-ship missiles, in contrast to ships configured for anti-air warfare, which carry eight HF-2 and four HF-3 missiles, the official said, speaking on condition of anonymity. The anti-ship corvettes would be armed for improved standoff range against surface combatants and carry the latest
PARTIAL SUPPORT: Morris Chang said he agrees with the US’ goal to slow advances of China’s chip sector, but US policies that might boost chip prices perplex him Washington’s efforts to on-shore semiconductor production might lead to surges in chip prices and supply bottlenecks, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) founder Morris Chang (張忠謀) said yesterday. The 91-year-old industry veteran said he supports parts of Washington’s effort to slow China’s progress on advanced chip manufacturing. China is still six years behind Taiwan in making advanced chips, despite years-long efforts to catch up, Chang told a Commonwealth Magazine forum that he coheadlined with Tufts University assistant professor Chris Miller, an expert on the US-China rivalry’s effects on chip manufacturing. However, Chang said that other parts of the effort, particularly Washington’s on-shoring
NINE TYPES: One of the devices can be carried by a single soldier and can destroy high-value, high-risk vehicles as well as target personnel, an official said Taiwan’s top military research body yesterday unveiled nine domestically developed drones in Taichung, including a loitering munition, or “suicide drone,” similar to the US-made AeroVironment Switchblade 300. The surveillance and attack drones shown to the media by the Chungshan Institute of Science and Technology included the Albatross medium-range uncrewed aerial vehicle Nos. 1 and 2, and the Teng Yun 2 and Cardinal 2 and 3 indigenous uncrewed combat aerial vehicles. The institute also unveiled a domestically made drone inspired by the AeroVironment Switchblade 300, which Ukrainian forces have employed in the country’s war with Russia. Aeronautical Systems Research Division head Chi Li-pin (齊立平)
‘WRONG DECISION’: Honduras should carefully consider the situation, and not fall into China’s trap and jeopardize the bilateral friendship, the foreign ministry said The Ministry of Foreign Affairs yesterday said that it had expressed “grave concern” to the government of Honduras after Honduran President Xiomara Castro on Tuesday wrote on Twitter that it would pursue official diplomatic relations with China. In addition to issuing a statement, Vice Minister of Foreign Affairs Alexander Yui (俞大㵢) summoned Honduran Ambassador to Taiwan Harold Burgos to the ministry in Taipei early yesterday to voice the government’s concerns. The meeting lasted about 20 minutes and Burgos did not make any public comments upon arriving at the ministry. Burgos said shortly after noon that he had not yet heard from his country’s
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