US unit up on rate hike hopes, baht falls
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.