Asian currencies mostly fell against the dollar during the week as the US unit clawed back to a stronger position after China said it did not plan further revaluation of the yuan in the immediate future.
JAPANESE YEN: The yen fell against the dollar during the week as the greenback firmed up its position after China denied another revaluation of its yuan would come soon, dealers said.
The yen stood at 112.24 to the dollar in Tokyo Friday afternoon, compared with 111.06 to the dollar a week earlier.
Last week the Japanese currency hit three-week highs against the dollar following China's surprise announcement that it was revaluing its currency by some two percent and dropping the dollar peg in favour of a forex regime tied to a basket of currencies.
But the yen started losing ground after China denied it would again revalue the yuan any time soon and investors shifted their focus on US economic indicators including US second-quarter growth figures.
"The dollar climbed back to the level it was at before China's revaluation last Thursday," said Shigetake Nakayama, currency analyst at UFJ Bank.
Throughout Friday, the yen was under pressure as investors expected strong US growth figures. The US government said Friday the world's biggest economy grew at an annual rate of 3.4 percent in the second quarter, down a touch from the two preceding quarters.
AUSTRALIAN DOLLAR: The Australian dollar closed slightly lower Friday than the previous week, but dealers said it had been boosted by US dollar softness and the issue of Japanese bonds denominated in the local currency.
The Australian dollar was at 76.18 US cents late Friday, slightly lower the 76.56 US cents of the previous week but more than half a US cent higher than the previous day.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week in local trading at 68.30 US cents compared with 68.69 the previous week. BNZ currency strategist Sue Trinh said the kiwi received support Thursday when central bank governor Alan Bollard suggested there would be no interest rate cuts in the foreseeable future. Dealers said although the New Zealand economy was slowing, there remained strong interest in the local currency from Asian investors.
HONG KONG DOLLAR: Hong Kong's US-pegged dollar was at 7.7775 on Friday from 7.7705 the previous week.
INDONESIAN RUPIAH: The Indonesian rupiah closed trading little changed Friday at 9,800-9,810 to the dollar compared to the previous week's 9,790-9,800.
PHILIPPINE PESO: The Philippines peso traded lower at 56.130 to the dollar on Friday afternoon, compared to 55.890 on July 22.
SINGAPORE DOLLAR: The dollar rose to 1.6620 Singapore dollars on Friday from 1.6605 dollars the previous week.
SOUTH KOREAN WON: The won closed at 1,026.80 won per dollar Friday, compared to 1,021.30 won to the greenback a week earlier.
Dealers said the won was expected to move between 1,025 won and 1,030 won in the coming week.
TAIWAN DOLLAR: The Taiwan dollar declined 1.10 percent over the week to end at 31.996 against the greenback Friday. It finished at 31.648 a week ago.
THAI BAHT: The baht gained slightly against the US dollar over the past week due to last week's revaluation of the yuan, dealers said.
The Thai unit closed on Friday at 41.68-70 baht to one dollar compared to last week's close at 41.86-88.
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