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Dollar dips against yen in Asian trade
 

By AFP

June 15, 2012 - Updated 859 PKT
From Web Edition
 
 



TOKYO: The dollar weakened against the yen in Asian trade on Friday while the euro was mixed ahead of weekend elections in Greece that are widely seen as a referendum on its future in the eurozone.

 

The greenback was changing hands at 79.04 yen from 79.34 yen in New York late Thursday, while the euro bought $1.2632 and 99.87 yen, from $1.2630 and 100.21 yen in US trade.

 

A Bank of Japan decision Friday morning to keep interest rates unchanged at zero to 0.1 percent had little immediate impact on rates, dealers said.

 

"Ahead of Geece's election, there is no sense of direction in the currency market," Masafumi Yamamoto, chief currency strategist at Barclays Capital, said in a note to clients.

 

Traders were closely watching the BoJ for signs of fresh easing as well as key US economic data later Friday, but "the sensitivity of the market to these events will be lower" than usual because of the Greek elections, he added.

 

Polls show Greek voters split between supporting pro-bailout parties and the leftist Syriza party which wants to renegotiate an EU-IMF bailout, warning it was ready to tear up the agreement.

 

Syriza leader Alexis Tsipras has set a 10-day deadline to renegotiate the bailout deal, which he claims is killing the country's hard-hit economy.

 

 
 
 
 
 
 
 
 
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