Updated on
Summary The euro edged down to $1.2932 from $1.2940, while rising to 103.77 yen from 103.69 yen.
The dollar rose against the euro and yen in Asia on Friday, backed by fresh concerns over Greece and dire outlooks for major Japanese companies.The greenback was up at 80.21 yen in Tokyo afternoon trade from 80.13 yen in New York late Thursday.The euro edged down to $1.2932 from $1.2940, while rising to 103.77 yen from 103.69 yen.The International Monetary Fund said Thursday that negotiations between Athens and international lenders for desperately-needed rescue funds were stuck, sending Greek stocks plunging five percent.News on Greece may well vie with the US elections in terms of market significance next week, National Australia Bank said in a note.The dollar also rose against the yen three days after the Bank of Japan (BoJ) took fresh easing steps, which initially sparked selling of the greenback.National Australia Bank said it was a little surprised to see dollar-yen trading back on an 80-yen handle this morning so soon after the post-BoJ meeting sell-off on Tuesday.Rather, company-specific news may be at play, after major Japanese electronics makers unveiled dire business outlooks, it said.Sharp nearly doubled its loss forecast to a record $5.6 billion on Thursday, just a day after Panasonic said it would lose an eye-watering $9.6 billion in the year to March.Sony said it expected to lose $1 billion on its TV business this fiscal year.The impression of the Japanese authorities fiddling while the economy burns is hard to escape, but dire company news may now be doing more to help the cause of a weaker yen than policy makers ever can, the bank said in a note.For more trading pegs market players are waiting for monthly US jobs data later in the day after mostly positive US economic data Thursday lifted sentiment.The dollar was mixed against other Asia-Pacific currencies.It firmed to 1,091.15 South Korean won from 1,090.63 on Thursday and to Sg$1.2213 from Sg$1.2204, while slipping to 41.16 Philippine pesos from 41.18 pesos and to 53.64 Indian rupees from 53.78 pesos.The dollar stayed mostly unchanged at 30.72 Thai baht, 9,630 Indonesian rupiah and Tw$29.23.The Australian dollar edged up to $1.0396 from $1.0370 and Chinas yuan to 12.82 yen from 12.80 yen.
