Dollar gains

Hot Now

TOKYO: The dollar edged up in Asian trading on Friday but was on track for a losing month against a basket of currencies, while the euro shed some of its monthly gains after the European Central Bank maintained its easing bias.

The dollar index, which tracks the greenback against a basket of six major rivals, edged up 0.1 percent to 99.205 , but down 0.8 percent for the week and 1.1 percent for April.

The euro was down 0.1 percent at $1.0863, but up 1.3 percent for the week and 2 percent for the month.

ECB chief Mario Draghi said on Thursday after the central bank´s policy meeting that removal of the bank´s easing bias was not discussed, stressing the barriers the ECB still faces before beginning to tighten its ultra-loose financing conditions.

However, he also said that euro zone´s recovery was increasingly solid and downside risks had diminished.

"My feeling is that Draghi´s statement will be an important factor to set the tone for the euro´s movement next month," said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo. "He said the ECB is unlikely to start its exit strategy this year.

"Against its Japanese counterpart, the dollar inched 0.1 percent lower on the day to 111.30 yen, up 1.9 percent for the week but still down 0.2 percent for the month.