The dollar was stable against the euro in London on Friday, with the single currency hurt by a weak reading on German industrial orders.
The euro in late day trading was at US$1.57 against US$1.5694 late on Thursday. The dollar was likewise unchanged against the yen at ¥106.63 after ¥106.75 on Thursday.
Trading was thin in the absence of activity in the US, where markets were closed for the Independence Day holiday.
The euro trailed the dollar for the most of the day, still feeling the effects of comments on Thursday from the head of the European Central Bank (ECB) suggesting there would be no further eurozone interest rate hikes in the near future.
The bank on Thursday raised its benchmark rate a quarter of a point to 4.25 percent in a bid to curb record eurozone inflation. But ECB President Jean-Claude Trichet later signaled that additional rate hikes were not likely.
In London trading on Friday, the euro changed hands at US$1.5700 against US$1.5694 late on Thursday, ¥167.62 (¥167.55), £0.7924 (£0.7914) and 1.6083 Swiss francs (SF1.6113).
The dollar stood at ¥106.73 (¥106.75) and SF1.0239.
The pound was at US$1.9827 (US$1.9824).
The Philippine peso led losses in Asian currencies this week after inflation last month accelerated to the fastest in 14 years.
The peso, the worst performer in the region in the past three months, traded near the lowest since September.
The Philippine currency fell 1.5 percent to 45.445 as of 4:12pm in Manila on Friday, from 44.75 last Friday, according to Tullett Prebon PLC.
Elsewhere, the New Taiwan dollar was at NT$30.401 from NT$30.388 last week. The Singapore dollar rose 0.1 percent to S$1.3614, the Thai baht gained 0.2 percent to 33.49 and the Indonesian rupiah was unchanged at 9,215, while Vietnam’s dong traded at 16,846.50 compared with 16,843.00 last week.
AIR DEFENSE: The Norwegian missile system has proved highly effective in Ukraine in its war against Russia, and the US has recommended it for Taiwan, an expert said The Norwegian Advanced Surface-to-Air Missile Systems (NASAMS) Taiwan ordered from the US would be installed in strategically important positions in Taipei and New Taipei City to guard the region, the Ministry of National Defense said in statement yesterday. The air defense system would be deployed in Taipei’s Songshan District (松山) and New Taipei City’s Tamsui District (淡水), the ministry said, adding that the systems could be delivered as soon as the end of this year. The US Defense Security Cooperation Agency has previously said that three NASAMS would be sold to Taiwan. The weapons are part of the 17th US arms sale to
INSURRECTION: The NSB said it found evidence the CCP was seeking snipers in Taiwan to target members of the military and foreign organizations in the event of an invasion The number of Chinese spies prosecuted in Taiwan has grown threefold over a four-year period, the National Security Bureau (NSB) said in a report released yesterday. In 2021 and 2022, 16 and 10 spies were prosecuted respectively, but that number grew to 64 last year, it said, adding that the Chinese Communist Party (CCP) was working with gangs in Taiwan to develop a network of armed spies. Spies in Taiwan have on behalf of the CCP used a variety of channels and methods to infiltrate all sectors of the country, and recruited Taiwanese to cooperate in developing organizations and obtaining sensitive information
BREAKTHROUGH: The US is making chips on par in yield and quality with Taiwan, despite people saying that it could not happen, the official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has begun producing advanced 4-nanometer (nm) chips for US customers in Arizona, US Secretary of Commerce Gina Raimondo said, a milestone in the semiconductor efforts of the administration of US President Joe Biden. In November last year, the commerce department finalized a US$6.6 billion grant to TSMC’s US unit for semiconductor production in Phoenix, Arizona. “For the first time ever in our country’s history, we are making leading edge 4-nanometer chips on American soil, American workers — on par in yield and quality with Taiwan,” Raimondo said, adding that production had begun in recent
Seven hundred and sixty-four foreigners were arrested last year for acting as money mules for criminals, with many entering Taiwan on a tourist visa for all-expenses-paid trips, the Criminal Investigation Bureau (CIB) said on Saturday. Although from Jan. 1 to Dec. 26 last year, 26,478 people were arrested for working as money mules, the bureau said it was particularly concerned about those entering the country as tourists or migrant workers who help criminals and scammers pick up or transfer illegally obtained money. In a report, officials divided the money mules into two groups, the first of which are foreigners, mainly from Malaysia
RSS