Euro steady after ECB, BoE keep rates unchanged

TOKYO: The euro was steady in Asia on Friday after jumping more than one cent on the dollar overnight as the European Central Bank and Bank of England kept their low benchmark interest rates unchanged.

The euro bought $1.3017 and 102.13 yen in Asian morning trade, compared with $1.3018 and 102.16 yen in New York late Thursday.

The dollar changed hands at 78.45 yen against 78.48 yen overnight.

The European single currency remained supported after a strong overnight session following the ECB and BoE decisions, dealers said.

"It might see some profit-taking in Asia after the strong move, but should be supported on dips around 1.2975," ASB Head of FX Institutional Sales New Zealand Tim Kelleher told Dow Jones Newswires.

The euro's strength also benefited from the ECB's assurances that it was ready to support crisis-hit countries.

ECB chief Mario Draghi said the bank's new bond-buying "bazooka" was primed and ready to help crisis-hit countries, as he praised Spain's reform efforts.

He stressed that it was now up to governments to act and get their economies and finances in order to end the eurozone's deep woes.

Trade was cautious, analysts said, as investors waited to see US unemployment and jobs data for September, to be released later in the day.

The market was also looking to results of a two-day monetary policy meeting of the Bank of Japan, which is expected to end in the afternoon.