Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Tokyo - The dollar edged up against the euro but stayed weak against the yen in Asia on Friday ahead of the release of closely watched monthly US jobs data.
The euro fetched $1.3130 in Tokyo afternoon trade, down from $1.3142 in New York late on Thursday. The common currency also eased to ¥100.02 from ¥100.18 while the dollar was at ¥76.18 against ¥76.23 in New York.
The dollar stayed weak against the yen even after Japanese Finance Minister Jun Azumi again warned of possible yen-selling intervention.
"Speculative yen-buying has been accelerating, with declining US interest rates being used as an excuse" by speculators to load up on the Japanese currency, Azumi told reporters.
"I have strong concerns regarding the question of whether this one-sided rise in the yen reflects Japan's real economic state... If there is one-sided movement, I will take decisive steps," he said.
The dollar briefly fell to ¥76.10 in Tokyo morning trade. The greenback was last below ¥76.00 in late October, when Japan stepped into markets to curb the yen's historic rise and try to protect exports.
Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo, said the dollar would likely be sold regardless of whether the upcoming January US jobs data came in above or below expectations.
Weaker figures would justify the extension of the Federal Reserve's easy monetary policy while stronger figures would improve risk appetite, he said.
"In either case it will lead to a weaker dollar," he said.
The euro remained under pressure while talks on a Greek debt write-down dragged on.
Negotiations with private investors to agree a huge write-down of Greek sovereign debt are at an "ultra difficult" stage, eurozone chief Jean-Claude Juncker said on Thursday.
The dollar was mixed against other Asian currencies.
It firmed to 30.94 Thai baht from 30.88 baht on Thursday, to Sg$1.2478 from Sg$1.2457, to 8 965.00 Indonesian rupiah from 8 900.00 rupiah and to 42.76 Philippine pesos from 42.69 pesos.
But it eased to 1 117.80 South Korean won from 1 118.20 won while holding steady at Tw$29.52.