Euro edges up as de­fla­tion fears ease, limited by Greek debt talks

The China Post - - BUSINESS INDEX & -

The euro edged higher on Wed­nes­day af­ter data showed eu­ro­zone de­fla­tion eased last month, although gains were limited as traders keep an eye on Greek bailout talks.

In Tokyo, the sin­gle cur­rency bought US$1.0757 and 128.98 yen, against US$ 1.0741 and 128.95 yen in New York.

The dollar slipped yen from 120.06 yen.

On Tues­day, of­fi­cial fig­ures showed prices in the eu­ro­zone fell 0.1 per­cent in March, nar­row­ing a drop of 0.3 per­cent in Fe­bru­ary and 0.6 per­cent in Jan­uary, giv­ing some hope that the cur­rency bloc could avoid a spi­ral of de­fla­tion.

The Euro­pean statis­tics agency Euro­stat said the un­em­ploy­ment

to 119.90 rate also im­proved.

“Eu­ro­zone CPI (con­sumer price in­dex) was ex­actly as ex­pected ... and Ger­man re­tail sales and un­em­ploy­ment data were some­what bet­ter,” Na­tional Australia Bank said in a com­men­tary.

“The Greek ‘is­sue’ ... con­tin­ues to lurk in the wings as Ger­many’s (An­gela) Merkel sug­gests time is short for Greece to come up with an ac­cept­able pro­posal.”

The dollar mostly weak­ened against other Asia-Pa­cific cur­ren­cies.

It edged down to SG$1.3681 from SG$ 1.3754 on Tues­day, to 1,102.20 South Korean won from 1,110.17 won, and to 13,030.00 In­done­sian ru­piah from 13,094.90 ru­piah.

The U. S. dollar also eased to 62.50 In­dian ru­pees from 62.66 ru­pees, to 32.52 Thai baht from 32.53 baht, and to 44.60 Philip­pine pe­sos from 44.71 pe­sos, while it was un­changed at NT$31.29.

The Aus­tralian dollar weak­ened to 76.27 U.S. cents from 76.34 cents.

The Chi­nese yuan edged down to 19.35 yen from 19.37 yen.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.