Forex - Dollar lower vs yen, up vs euro in Sydney afternoon trade |
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Published
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Tue, 06 Feb 2007 04:50
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SYDNEY (AFX) - The US dollar fell further against the yen in midafternoon trade here while rising slightly against the euro, ahead of a speech from Federal Reserve chairman Ben Bernanke tonight, dealers said.They said Bernanke's speech on economic well-being to a US business group is unlikely to change the current expectations in currency markets for further gains by the yen and a weaker euro over the remainder of the trading week, especially given the lack of key economic data releases.At 2.17 pm (0317 GMT)in Sydney, the dollar was at 121.21 yen down from 121.32 in morning trade, while the euro was at 1.2927 usd, down from 1.2931 earlier.CMC Markets' senior analyst Ashraf Laidi said he is targeting the euro to slip to 1.2900 usd with any prolonged selling in the single currency likely to face resistance at 1.2870 usd.He said the US dollar/yen pair is facing downside risks this week ahead of the G7 finance ministers meeting on Friday, with interim support for the dollar standing at 120.40 yen followed by 120.00.Meanwhile, NAB Capital strategists said the Australian dollar is facing resistance at 0.7770 usd as the Reserve Bank of Australia meets today for its first monthly meeting for the year. The RBA is widely expected to announce tomorrow morning that interest rates will remain at 6.25 pct.Sydney 2.17 pm (0317 GMT) vs Sydney 10.00 am (2300 GMT Monday)US dollar121.21 yen vs 121.32 yen1.2484 sfr vs 1.2486 sfrEuro1.2927 usd vs 1.2931 usd155.37 yen vs 155.57 yen1.6131 sfr vs 1.6144 sfr0.6592 stg vs 0.6597 stgSterling1.9612 usd vs 1.9598 usd235.65 yen vs 235.81 yen2.4473 sfr vs 2.4470 sfrAustralian dollar0.7754 usd vs 0.7760 usd0.3953 stg vs 0.3958 stg93.185 yen vs 93.335 yenNew Zealand dollar0.6836 usd vs 0.6845 usdpaul.daniel@xfn.com
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Forex - US dollar weaker vs yen, euro in Singapore afternoon trade 