Thursday, May 24, 2007

Greenback Moves Sideways Against Hong Kong Dollar, Drops Against Singapore And Thailand Currencies, Thursday, May 24, 2007 1:41:32 AM

The US currency moved sideways against the Hong Kong dollar during late Wednesday in New York. On the other hand, the Greenback dropped against its Singapore and the Thailand counterparts.

To the other major Asian currencies like the Japanese Yen, South Korean Won and the Indian Rupee, the Greenback largely showed choppy trading during the session. The Japanese merchandise trade balance data for the month of April which was released at 7:50 pm ET weakened the Greenback slightly against the Yen, but the pair rebounded soon after.

During the late hours on Wednesday, the US currency traded down versus the Singapore dollar. At about 9:20 pm ET, the Greenback made some advances but the pair dropped heavily within about an hour. After hitting as low as 1.5243 by about 12:15 am ET Thursday, the pair strengthened slightly. As of 1:40 am Eastern Time, the Greenback traded at 1.5255 against the Singapore dollar.

Against the Hong Kong dollar, the US currency edged lower on Wednesday evening in New York. However, the pair gained some momentum at 7:10 pm ET and then moved sideways. The range was limited between 7.8228 and 7.8239. As of 1:40 am Eastern Time Thursday, the Greenback was quoted at 7.8234 against the Hong Kong dollar.

The US dollar made a sharp but brief fall versus the South Korean Won at 5:15 pm ET Wednesday. Soon after, the dollar bounced back and entered a tight range. Currently the dollar has been extending the same trend and collected 931.2000 against the South Korean Won as of 1:40 am Eastern Time Thursday.

The US dollar drifted higher against its Indian counterpart in the evening deals on Wednesday. However, at about 8:35 pm ET, coming down from 40.6500 the pair touched 40.2750 within a few minutes. Thereafter, the dollar moved sideways but it reversed some of its losses by about 12:10 am ET Thursday. As of 1:40 am Eastern Time, a dollar was worth 40.5750 Rupees.

The Greenback showed weakness versus the Thailand currency on late Wednesday in New York. The pair hit as low as 32.6950 by about 11:45 pm ET and then held steady.
Copyright © 2007 All Rights Reserved.


Post a Comment

<< Home