Greenback Surges Against Singapore And Malaysian Counterparts, Friday, July 27, 2007 4:14:04 AM
The U.S. currency surged against its Singapore and the Malaysian counterparts during the Asian deals on Friday. The Greenback fetched the 9-day high versus the Singapore dollar and the 1-month high versus the Malaysian Ringgit. On the other hand, the Greenback showed slight strength versus the Thai Baht, but it was down against the Hong Kong dollar.Against the Indonesian Rupiah and the Philippine Peso, the Greenback largely traded in a loose range during the session, but it has been strengthening slightly of late. However, the Greenback ticked up versus the Indian Rupee and the South Korean Won and collected the 15 and 17-day highs respectively.
The South Korean current account data for June released during the session is likely to have an effect on trading in the Greenback against the South Korean Won. The Bank of Korea announced that current account surplus grew to $1.5 billion in June from a revised $839.1 million in May.
The market now turns toward the U.S. Q2 GDP data which is slated for 8:30 am ET.
During the early Asian deals on Friday, the U.S. currency gained ground versus the Singapore dollar. At about 9:35 pm ET Thursday, the Greenback fell briefly but it moved sideways within half an hour which was limited between 1.5147 to 1.5157. However, the pair regained it momentum again at about 1:55 am Eastern Time and fetched the 9-day high of 1.518 within an hour. The pair then lost a few pips.
Against the Hong Kong dollar, the U.S. currency edged lower in the early Asian deals on Friday and touched the low of 7.8200 at 9:40 pm ET Thursday. The Greenback then gained a few pips and moved between 7.8215 to 7.8225.
After a brief downtrend, the U.S. dollar ticked up versus the Thai Baht during the early Asian session on Friday. The dollar thus climbed from 33.65 to 33.75 at 10:30 pm ET on Thursday. The pair then traded sideways, but it made a brief spike higher at 2:20 am ET and fetched 33.77. Currently, the pair has been losing the recent gains
In the early Asian session on Friday, the U.S. dollar trended higher against the Malaysian Ringgit. The dollar hit the 1-month high as 3.4715 by about 9:15 pm Eastern Time Thursday. Thereafter, the pair showed a choppy trend.
The U.S. dollar traded in a loose range between 0.9100 and 0.9215 versus the Indonesian Rupiah in the Asian deals on Friday. However, at about 2:15 am Eastern Time, the pair started strengthening and it is currently at 0.923.
Against the Philippine Peso, the U.S. currency moved between 45.11 and 45.75 during the Asian session on Friday. But the pair moved out of that range at 2:40 am Eastern Time and it is currently trading at 45.87.
During the Asian deals on Friday, the U.S. dollar drifted up versus the Indian Rupee and collected as much as 40.55 by about 12:20 am Eastern Time. This was the 15-day high for the dollar. The pair then moved sideways.
The U.S. currency advanced against the South Korean Won in the early Asian deals on Friday. After fetching the 17-day high of 922.45 at 8:20 pm ET Thursday, the pair dropped slightly and then showed choppy trading. However, at about 2:05 am ET, the Greenback gave back the gains and held steady at 917.40.
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posted by Kalin Tasev @ 4:32 AM
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