Dollar edges up against yen as Syria woes ease

TOKYO: The dollar moved higher against the yen in Asian trading on Wednesday, adding to the previous day's rally, as dealers welcomed diplomatic efforts to solve the Syrian crisis without military action.

The greenback fetched 100.57 yen in Tokyo by midday, against 100.40 yen in New York on Tuesday and well up from 99.60 yen in Asia on Tuesday.

The euro bought $1.3265, compared with $1.3266 while it was also at 133.30 yen from 133.29 yen.

US President Barack Obama said late Tuesday in Washington he would give diplomacy a chance before launching an attack on Syria for using chemical weapons on its own people last month.

The Assad regime earlier in the day agreed to a proposal by Russia to "place the chemical weapons under international control and then have them destroyed".

Obama has asked Congress to delay a vote on carrying out a strike while diplomatic channels are explored, analysts said.

The has helped boost confidence and kept the dollar buoyant against the Japanese unit, which is considered a safer bet in times of uncertainty, dealers said.