Dollar under pressure as tensions rise over Syria

TOKYO: The yen maintained its gains against the dollar in Asia on Wednesday and emerging market currencies sagged as traders shunned
risk and fled to safety on rising tensions over Syria.

The dollar bought 97.03 yen in Tokyo midday trade, largely unchanged from 97.01 yen in New York Tuesday afternoon but sharply down from rates above 98.00 yen in Tokyo Tuesday.

The euro bought $1.3388 and 130.08 yen compared with $1.3391 and 129.88 yen.

Emerging Asia currencies were mostly lower. The Indian rupee, which hit a new record low of 67.22 to the dollar Tuesday, was trading at 66.19. The Indonesian rupiah fell to 11,306 from 10,925 and the Philippine peso was down at 44.57 pesos from 44.43 pesos.