US dollar eases against yen, retreats from 5-year high

SINGAPORE: The dollar fell against the yen in Asia Friday, extending losses seen in New York, as the unit retreated from a five-year high despite a broadly upbeat set of US economic data.

The greenback bought 104.35 yen in Singapore morning trade, compared with 104.69 yen in New York on Thursday and well down from the 105.41 yen mark touched earlier this week, which was the highest since October 2008.

The euro dipped to $1.3657, from $1.3665, and to 142.55 yen from 143.06 yen. Japanese markets are closed for a public holiday.

US economic reports Thursday included data showing the strongest US construction spending in four years as well as a fall in jobless claims. And while manufacturing activity slowed in December it still remained solid, raising hopes the economy will continue to pick up in 2014.