Monday, July 23, 2007

Dollar Sees Mixed Trading Against Southeast Asian Currencies, Monday, July 23, 2007 3:22:05 AM

The U.S. dollar saw a mixed trading against the Southeast Asian currencies during the Tokyo deals on Monday. While the dollar advanced versus the Thai Baht, it slipped against its Singapore and the Malaysian counterparts. But the U.S. dollar largely moved sideways against the Hong Kong dollar.

On the other hand, the dollar gained slightly versus the Indian Rupee, but it was down against its Philippine, Indonesian and the South Korean counterparts.

The Singapore Consumer Price Index data which was released during the session is likely to have influenced the deals in the Greenback against the Singapore dollar. Singapore consumer prices index- CPI declined 0.3% on month in June. The decline reversed the 0.3% gain logged last month. On a yearly basis, the CPI advanced 1.3% in June, bettering the 1.0% rise in the previous month.

No major key economic data is expected from the U.S. economy during the North American session on Monday.

The U.S. currency traded between 1.5112 and 1.5121 versus the Singapore dollar in the early Asian deals on Monday. The Greenback fell sharply at 12:30 am Eastern Time, but it bounced back within a few minutes. Soon after, the pair lost ground again and it is currently trading at 1.509.

After a brief slid, the U.S. currency moved sideways against the Hong Kong dollar during the early Asian session on Monday. The Greenback declined slightly again at about 12:20 am ET, but it rebounded soon after. As of now, the pair is trading at 7.8203.

In the early Asian deals on Monday, the U.S. dollar dropped slightly versus the Thai Baht. Off 33.60 at 10:10 pm ET Sunday, the dollar reversed the losses and advanced further to 33.71 by about 2:45 am ET. Thereafter, the pair lost a few pips and it is currently trading at 33.69.

Against the Malaysian Ringgit, the U.S. dollar traded slightly higher as the Asian deals started on Monday. However, at about 8:20 pm Eastern Time Sunday, the dollar gave back the gains and edged further lower. As of now, the pair is trading at 3.4100.

The U.S. dollar showed weakness versus the Indonesian Rupiah in the early Asian session on Monday. The downtrend pushed the dollar to hit as low as 0.9057 at 1:20 am Eastern Time. The pair then gained some momentum and entered a loose range.

During the early Asian session on Monday, the U.S. currency slipped against its Philippine counterpart and touched a low of 44.87 by about 10:45 pm ET Sunday. The pair then showed a choppy trend.

The U.S. dollar showed choppy trading versus the Indian Rupee during the early Asian deals on Monday. At about 11:10 pm ET Sunday, the dollar started trading higher and thus it climbed from 40.14 to 40.38 within half an hour. Thereafter, the pair moved sideways.

Against the South Korean Won, the U.S. dollar moved sideways in the early Tokyo session on Monday. But the pair ticked down at about 11:50 pm Eastern Time Sunday and touched a low of 915.00 by about 1:50 am ET. Soon after, the dollar rebounded and held steady at 916.10.
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