US unit up on rate hike hopes, baht falls

The China Post - - BUSINESS INDEX & -

The U.S. dol­lar broadly rose Tues­day as strong hous­ing data bol­stered hopes for a U.S. in­ter­est rate hike, while the Thai baht slumped to a fresh six-year low af­ter a deadly Bangkok bomb­ing.

In Tokyo, the U.S. unit edged up to 124.47 yen, against 124.41 yen in New York, af­ter the Na­tional As­so­ci­a­tion of Home Builders said home­builder sen­ti­ment hit its high­est level since the re­ces­sion ended in 2009.

In other trad­ing, the euro edged down to US$1.1055 and 137.62 yen against US$1.1078 and 137.81 yen in U.S. trad­ing.

The baht slumped to a fresh sixyear low in the wake of the deadly blast that killed 20 peo­ple and wounded scores more in an un­prece­dented at­tack on the coun­try’s cap­i­tal.

The unit slipped to 35.648 against the U.S. dol­lar on Tues­day, its low­est level since 2009, as the bomb­ing at a shrine pop­u­lar with for­eign visi­tors threat­ened to dam­age Thai­land’s cru­cial tourism in­dus­try.

The U.S. dol­lar was mostly stron- ger against other Asia-Pa­cific cur­ren­cies.

It rose to 46.36 Philip­pine pe­sos from 46.28 pe­sos on Mon­day, to 1,185.03 South Korean won from 1,182.00 won, and to 65.31 In­dian ru­pees from 65.20 ru­pees.

The U. S. unit weak­ened to SG$1.4079 from SG$1.4083 and to 13,839 In­done­sian ru­piah from 13,855 ru­piah.

The Aus­tralian dol­lar edged down to 73.63 U.S. cents from 73.75 U.S. cents, while the Chi­nese yuan fetched 19.42 yen against 19.44 yen.

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