Friday, March 7, 2014

Epic Research Singapore : Forex Market Update

The dollar moved narrowly against the yen and euro in Asia on Friday as investors await US jobs data later in the day for clues about the state of the world's largest economy.

The US currency fetched 103.00 yen in Tokyo afternoon trade, slightly down from 103.08 yen in New York Thursday afternoon, but higher than the 102.72 yen in Tokyo earlier Thursday.

The euro, which gained Thursday on the European Central Bank's upbeat outlook on the euro zone economy, slipped to US$1.3856 and 142.72 yen from US$1.3861 and 142.88 yen.

The ECB on Thursday held its interest rates unchanged for the fourth month in a row, assessing that the nascent recovery in the bloc remains on track.

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