Asia currencies softer as dollar edges up
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Asian currencies in the region were by and large softer in the face of a rising dollar on Thursday, with one notable exception.
The dollar index measuring the greenback against a basket of peers was up 0.1 per cent after climbing 0.2 per cent on Wednesday.
South Korea’s won led losses among major Asian currencies, dropping 0.2 per cent to Won1,141.95 per dollar.
Japan’s yen was 0.1 per cent weaker, pushing it just past the ¥109 per dollar mark after the currency firmed to be as strong as ¥108.66 the day prior. The yen is 7.3 per cent stronger against the dollar for the year to date.
The New Zealand dollar bucked the trend, however, climbing 0.4 per cent to $0.7034 following data that showed consumer inflation reached the Reserve Bank of New Zealand’s target rate for the first time since 2011. The Australian dollar was a distant second with a 0.1 per cent gain on its American counterpart to $0.7505.
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