Greenback Mixed Against Southeast Asian Currencies On Thursday, Thursday, June 21, 2007 2:41:51 AM
The US currency showed a mixed performance against its Southeast Asian counterparts on Thursday. While the Greenback was down versus the Hong Kong dollar, it held steady with the Thai Baht. But the Greenback largely showed choppy trading against the Singapore dollar and the Malaysian Ringgit.To the other major Asian currencies like the Indonesian Rupiah and the Philippine peso, the Greenback traded in a loose range. On the other hand, the Greenback showed some strength versus the Indian Rupee, but it dropped against the South Korean Won.
The US currency traded higher versus the Singapore dollar as the Asian deals started on Thursday. However, at about 8:45 pm ET, the pair gave back most of its gains and showed a choppy trend.
During the Asian deals on Thursday, the Greenback declined against its Hong Kong counterpart. The pair gained slightly at 11:00 pm ET Wednesday, but it edged down soon after. Lately the Greenback has been moving further lower.
After collecting as much as 32.5550 at 8:50 am ET on last Friday, the Greenback held steady versus the Thai Baht. However, during the afternoon deals, the pair dropped slightly and touched 32.4450 by about 2:20 pm ET. Thereafter, the Greenback held steady at the same point and has been extending the same trend currently.
Against the Malaysian Ringgit, the US dollar gained sharply in the early Asian deals on Thursday and fetched a three day high of 3.4540 at 8:15 pm ET Wednesday. Soon after, the pair lost some pips and moved sideways. Of late the dollar has been continuing the same trend.
In the early Asian deals on Thursday, the Greenback ticked up slightly versus the Indonesian Rupiah, but the pair gave back the gains completely at 10:05 pm ET Wednesday. The Greenback then entered a loose range and it was limited between 0.8888 to 0.9092.
After showing a slight uptrend during the early Asian deals on Thursday, the dollar lost ground against its Philippine counterpart. Off 45.93 at 9:40 pm ET, the pair strengthened slightly but it showed a choppy trend within a few minutes.
The US dollar ticked down slightly versus the Indian Rupee during the early Asian deals on Thursday. However, at about 11:25 pm ET, the pair bounced back completely and steadied further higher. The dollar thus gained from 40.58 to 40.81. The dollar then slipped slightly and it is currently trading at 40.75-40.76.
Against the South Korean Won, the dollar advanced slightly in the early Asian deals on Thursday. But the pair fell sharply at 9:30 pm ET Wednesday and touched the session`s low of 924.05 within an hour. The dollar then reversed some of its losses and moved sideways.
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posted by Kalin Tasev @ 2:41 AM
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