Dollar Flat Against Yen, Euro Ahead of Weekend
09 October 2015 - 4:52PM
Dow Jones News
By Hiroyuki Kachi
The dollar was almost flat against the yen and the euro in Asian
trade Friday, as investors avoided taking large positions given the
lack of fresh trading cues and ahead of the three-day weekend in
Japan.
Around 0450 GMT, the greenback was at Y119.99, compared with
Y119.94 late Thursday in New York. Japanese financial markets will
be closed on Monday for health and sports day.
The U.S. currency weakened overnight against a basket of rival
currencies after the dovish tone in minutes of the Federal
Reserve's latest policy meeting that showed a group of central
bankers remained hesitant to raise short-term rates while inflation
is low.
"The number of investors betting on the Fed's inaction this year
is increasing," said Koji Fukaya, chief executive at FPG
Securities. "But we still don't know. We still have to see (U.S.)
jobs data twice this year," said Mr. Fukaya.
In the Asian session, the greenback remained directionless
within a tight range against the yen and the euro.
"I think investors find it difficult to make moves, as stock
prices are not moving much," said Yasuaki Amatatsu, senior analyst
of global markets research at the Bank of Tokyo-Mitsubishi UFJ.
The benchmark Nikkei Stock Average was up 1.6% midday. The
Shanghai Composite Index was last trading 0.7% higher.
The U.S. currency was largely flat against the euro, which rose
slightly to $1.1285 midday from $1.1276 late Thursday. The common
currency was at Y135.39 from Y135.27.
"Investors can't sell or buy [the euro]" based on the European
Central Bank minutes overnight, which they read as dovish but which
were largely in line with previous remarks from ECB officials, said
Mr. Amatatsu at the Bank of Tokyo-Mitsubishi UFJ.
The minutes of its September policy meeting showed the ECB
officials determined that downside risks to inflation intensified
over the summer, though they needed more time to gauge the impact
of financial-market volatility and slower growth in China.
At its Sept. 3 meeting, ECB officials raised the possibility
that they would beef up their EUR60 billion ($68 billion) a month
bond-buying program.
The WSJ Dollar Index, a measure of the dollar against a basket
of major currencies, was down 0.09% at 87.42.
Interbank Foreign Exchange Rates At 00:50 EST / 0450 GMT
Latest Previous %Chg Daily Daily %Chg
Dollar Rates Close High Low 12/31
USD/JPY Japan 119.98-99 119.93-94 +0.04 120.01 119.84 +0.22
EUR/USD Euro 1.1284-87 1.1276-79 +0.07 1.1292 1.1268 -6.72
GBP/USD U.K. 1.5368-70 1.5347-49 +0.14 1.5375 1.5344 -1.34
USD/CHF Switzerland 0.9658-62 0.9659-63 -0.01 0.9676 0.9655 -2.85
USD/CAD Canada 1.2961-66 1.3014-19 -0.41 1.3023 1.2963 +11.55
AUD/USD Australia 0.7285-89 0.7257-61 +0.39 0.7290 0.7248 -10.82
NZD/USD New Zealand 0.6678-84 0.6665-71 +0.18 0.6683 0.6656 -14.30
Euro Rate
EUR/JPY Japan 135.40-44 135.22-26 +0.13 135.44 135.06 -6.57
Source: Tullett Prebon
Write to Hiroyuki Kachi at Hiroyuki.Kachi@wsj.com
(END) Dow Jones Newswires
October 09, 2015 01:37 ET (05:37 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.