The euro dropped for a second week against the US dollar to a five-week low as weaker economic data and calls by a European Central Bank (ECB) official for more economic aid damped investor appetite for higher-yielding currencies.
The euro reached a seven-week low against the Swiss franc after ECB council member Axel Weber on Thursday told Bloomberg Television the central bank should assist financial institutions to prevent year-end liquidity tensions.
The US dollar and yen rose against most of their major counterparts as data indicated the global economic recovery may be faltering.
The Japanese finance minister is set to meet the prime minister in the week ahead to discuss the nation’s currency.
The euro fell 0.3 percent to US$1.2712 in New York from US$1.2754 in the five days ended Aug. 13. It touched US$1.2673 on Friday, the weakest since July 13. Japan’s currency dropped 1 percent to ¥108.83 per euro from ¥109.92 last week in New York, after reaching ¥108.31, the strongest since July 1.
The euro sank 2 percent to SF1.3143 from SF1.3408 a week ago, after touching SF1.3140. The yen rose 0.7 percent to ¥85.62 per US dollar. The Canadian dollar rose 0.4 percent to C$1.0475.
The pound fell versus the US dollar and yen on Friday and two-year UK government bond yields reached a record low as concern that the global economic recovery is slowing boosted demand for the safest assets.
The British currency declined 0.7 percent to US$1.5487 and dropped 0.2 percent against the Swiss franc to SF1.6071 as of 4:25pm in London on Friday. It slipped 0.3 percent to ¥132.83. The pound rose 0.4 percent against the euro to £0.8184.
The Taipei MRT is open all night tonight following New Year’s Eve festivities, and is offering free rides from nearby Green Line stations. Taipei’s 2025 New Year’s Eve celebrations kick off at Taipei City Hall Square tonight, with performances from the boy band Energy, the South Korean girl group Apink, and singers Gigi Leung (梁詠琪) and Faith Yang (楊乃文). Taipei 101’s annual New Year’s firework display follows at midnight, themed around Taiwan’s Premier12 baseball championship. Estimates say there will be about 200,000 people in attendance, which is more than usual as this year’s celebrations overlap with A-mei’s (張惠妹) concert at Taipei Dome. There are
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ANNOUNCEMENT: People who do not comply with the ban after a spoken warning would be reported to the police, the airport company said on Friday Taoyuan International Airport Corp on Friday announced that riding on vehicles, including scooter-suitcases (also known as “scootcases”), bicycles, scooters and skateboards, is prohibited in the airport’s terminals. Those using such vehicles should manually pull them or place them on luggage trolleys, the company said in a Facebook post. The ban intends to maintain order and protect travelers’ safety, as the airport often sees large crowds of people, it said, adding that it has stepped up publicity for the regulation, and those who do not comply after a spoken warning would be reported to the police. The company yesterday said that
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