Updated on
Summary So far, no final agreement has been made over the Greek bailout issue
The euro softened against major currencies in Asian trade Friday after eurozone finance ministers put off a decision on a new bailout to save Greece from bankruptcy.The single unit stood at $1.3261, slightly down from $1.3286 late Thursday in New York, and eased to 102.98 yen from 103.20 yen.The dollar bought 77.65 yen, edging down from 77.68 yen.European finance ministers gave Athens less than a week to pass new austerity measures and cuts if they are to grant the debt-stricken country a fresh 130 billion euro ($173 billion) payout.No final agreement has been made over the Greek bailout issue, said Tsunemasa Tsukada, chief manager of forex trading for Mitsubishi UFJ Trust and Banking Corp.The uncertainty in the European crisis has not been removed, and Japanese investors have yet to regain confidence in Europe.But dealers also said the move to buy the euro would continue with a possible improvement to the Greek debt crisis in sight, adding an optimistic note to trade in the single currency.Kosuke Hanao, head of foreign exchange at HSBC in Tokyo, said technical charts are signaling the euros upside potential.But he was quick to add that it was still possible the euro will get hit if Greek debt talks generate more negative headlines, Dow Jones Newswires said.The dollar was higher against other Asian currencies, rising to 9,014.38 Indonesian rupiah from 8,988.75 rupiah on Thursday, to 1,123.21 South Korean won from 1,116.07 won, and to Tw$29.50 from Tw$29.46.The dollar also firmed to 30.84 Thai baht from 30.74 baht, to 42.42 Philippine pesos from 42.17 pesos, and to Sg$1.2559 from Sg$1.2447.
