Dollar steady in Asia | The Daily Star
12:00 AM, May 20, 2008 / LAST MODIFIED: 12:00 AM, May 20, 2008

Dollar steady in Asia

The dollar was steady in Asian trade Monday as investors waited for upcoming data amid concern that inflation in the US economy could pick up even as growth slows, dealers said.
The dollar was steady at 104.03 yen in Tokyo afternoon trade compared with 104.07 late Friday in New York.
The euro was unchanged at 1.5585 dollars, while slipping to 162.09 yen from 162.20.
Trading was rangebound as market players awaited US producer prices data due out Tuesday, which analysts said could put the spotlight back on inflation worries.
Although market players last month tended to take a positive view of even negative data, they have now "recovered their objectivity," said Daisuke Uno, chief strategist at Sumitomo Mitsui Banking Corp.

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