Euro eases against dollar, yen in Asia

TOKYO: The euro remained weak against the dollar and the yen in Asian trade Friday, after it dropped in Europe following announcements from the European Central Bank and the Bank of England.

The single currency was changing hands at $1.2893 and 129.28 yen in Friday afternoon trade, down from $1.3000 and 129.62 yen in London Thursday.

The dollar was up against the yen, fetching 100.28 yen against 99.71 yen.

The US market was closed Thursday for a public holiday.

Europe's two most important central banks took unprecedented steps Thursday to reassure financial markets that interest rates on their side of the Atlantic are unlikely to rise any time soon.

Seeking to calm worries about the political crisis in Portugal and assuage concerns that the prolonged period of easy money is coming to an end in the United States, the European Central Bank and the Bank of England separately pledged to keep their borrowing costs low for as long as needed.