Dollar ends firmer against regional currencies

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TOKYO: The dollar firmed against major currencies in Asia on Thursday as anxiety about the impact of a possible Western military strike on Syria eased, analysts said.

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The US currency was at 97.78 yen, compared with 97.72 in New York City overnight, and 97.13 yen in Tokyo on Wednesday.

The euro fetched $1.3315 and 130.21 yen, compared with $1.3341 and 130.36 yen in US trade.

The dollar may move in a 97.20-98.20 yen range and possibly rise further, as traders who bought the Japanese currency on expectations of military action in Syria reverse their positions, said Kengo Suzuki, foreign exchange strategist at Mizuho Securities.

“Excessive risk aversion is unwinding,” he told Dow Jones Newswires, as the “initial shock of the news wears off.”

Anxiety about Syria initially caused the dollar to weaken earlier this week, as investors bought other safe-haven currencies, including the Swiss franc and yen.

Traders were now focused on the release later on Thursday of US indicators, including revised second-quarter gross domestic product, he said.

The Indian rupee, which fell nearly 4 percent to a new record low of 69.22 to the dollar on Wednesday, was at 67.78 in afternoon trade.

Other Asian currencies also recovered against the dollar.

The Indonesian rupiah was quoted at 11,077 to the dollar against 11,418.

AFP

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