The
dollar was mixed in Asia on Tuesday with few immediate trading cues to
move markets, after sentiment got a boost from an upbeat US jobs report
and better-than-expected Japan growth figures.
In
Tokyo midday trading, the greenback weakened to 102.35 yen from 102.53
yen on Monday in New York, while the euro drifted lower to 139.10 yen
against 139.35 yen.
The European single currency slipped to $1.3588, compared with $1.3592 in US trade.
Dealers
said the morning decline in Japan's benchmark Nikkei 225 stock index
was a key factor in driving down the dollar-yen rate.
The
dollar-yen rate and Tokyo's stock market are closely linked, with the
value of the yen directly affecting Japanese exporters' profitability.
On
Friday, the Labor Department said the US economy added 217,000 jobs in
May, while unemployment held at a multi-year low of 6.3 percent,
unchanged from April.
That
was followed on Monday by revised data that showed Japan's economy grew
a better-than-expected 1.6 percent in the first quarter, its fastest
pace in more than two years.
A marked improvement in Chinese manufacturing and trade has also helped to boost sentiment.
On
Tuesday, investors were keeping an eye on new data that showed Chinese
inflation surging to a four-month high of 2.5 percent in May, although
it was still below the government's 3.5 percent target.
Dealers were also looking ahead to a Bank of Japan policy meeting later this week.
Source : AFP
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