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US dollar up in Asia on Fed’s bullish tone

Business Desk |
Update: 2014-10-30 02:36:00
US dollar up in Asia on Fed’s bullish tone Photo Courtesy: ifun.pk

DHAKA: The US dollar rose in Asia on Thursday as a slightly bullish turn by the US Federal Reserve fuelled hopes for an early rise in US interest rates.

The greenback hit a three-week high of 109.04 yen in afternoon trade, up from 108.90 yen in New York and 108.12 yen in Tokyo earlier Wednesday.

The euro bought US$1.2624, compared with US$1.2634 in US trade and well down from Wednesday’s US$1.2737 in Asia.

The single currency was at 137.53 yen compared with 137.60 yen.

Against the Singapore dollar, the US dollar was up at S$1.2788 from S$1.2724, reports The Straits Times.

BDST: 1206 HRS, OCT 30, 2014

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