TOKYO: The dollar was trading in a narrow range against the euro and the yen on Friday afternoon following a rise in New York on positive US jobs and trade data.
The greenback was quoted at 78.57 yen in early trade, little changed from 78.55 yen in New York late Thursday.
The euro stood at $1.2290 and 96.57 yen, slightly down from $1.2301 and 96.62 yen.
The Australian dollar fell to $1.051 from $1.061 after weaker-than-expected Chinese trade data raised concerns about the world's number two economy.
"Although the yen briefly rose on Thursday as investors were disappointed at the Bank of Japan's lack of action, the dollar-yen could near the 79 yen level thanks to positive US data" and the trend of rising yields on US Treasury bonds, said Masafumi Yamamoto, chief currency strategist at Barclays Capital.
US weekly new jobless claims fell to 361,000, the Labor Department said Thursday, in another sign that the employment market has some moderate strength despite a second quarter lull in hiring.
The US trade deficit narrowed in June for the third straight month, figures showed Thursday, a trend seen as positive by analysts.
The market is likely to take Japan's vote in the upper house on a consumption tax hike bill due later Friday in its stride, Mizuho Corporate Bank analysts said in a note to clients.
The passage of the bill through parliament looked to be back on track after Prime Minister Yoshihiko Noda survived a no-confidence motion Thursday, having clinched an 11th-hour deal with a major opposition party.
"It's unlikely to cause a storm," Mizuho analysts said. The dollar was firmer against most other Asia-Pacific currencies.
It rose to 55.42 Indian rupees from 55.10 rupees on Thursday, to 41.89 Philippine pesos from 41.75 pesos, to Sg$1.2470 from Sg$1.2426 and to 31.50 Thai baht from 31.48 baht.
It also firmed to Tw$29.96 from Tw$29.92 and to 1,124.70 South Korean won from 1,124.38 won. It was flat at 9,475.00 Indonesian rupiah.
Chinese yuan bought 12.35 yen against 12.29 yen.
Dow Jones Newswires contributed to this story
Comments
Comments are closed for this article.