Dollar down in Asian trade

SINGAPORE: The US dollar eased against the yen and other Asian currencies in thin Asian trade Tuesday as investors stood on the sidelines with few leads on the last day of the year.

The greenback bought 105.04 yen in Singapore afternoon trade down from 105.11 yen in New York and 105.41 earlier Monday its strongest since October 2008.

The euro fetched 1.3794 from 1.3800 in US trade and eased to 144.83 yen from 145.05 yen. Financial markets in Tokyo Manila Seoul Bangkok and Jakarta were closed for public holidays.

There is very little propping up up the market at the moment especially with Japan closed. Investors are taking up offsetting positions Desmond Chua market analyst at CMC Markets in Singapore told.

Chua said a US consumer confidence report to be released later Tuesday will be in focus when markets in New York open for a full day session before the New Year s Day holiday. The dollar had slipped against the euro and other major currencies Monday after data showed US pending home sales rose 0.2 percent in November the first rise in five months but below the 1.5 percent increase projected by analysts.

The dollar Tuesday dipped to Sg 1.2654 from Sg 1.2840 in Tokyo on Monday to 1 049.80 South Korean won from 1 055.67 won and to Tw 29.85 from Tw 29.92.

It fell to 61.86 Indian rupees from 61.95 rupees to 12 170 Indonesian rupiah from 12 278 rupiah and to 32.79 Thai baht from 32.94. It fetched 44.40 Philippine pesos from 44.39 pesos.