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