07/02/2014 10:24 AST

The dollar moved narrowly in cautious trade in Asia on Friday, ahead of US jobs data that dealers hope will shed light on the health of the world's biggest economy.

In early exchanges the greenback bought 102.08 yen, hardly changed from 102.10 yen in New York Thursday afternoon.

The euro bought $1.3588 against $1.3591 while slipping to 138.70 yen from 138.79 yen.

The common European currency scored broad gains Thursday after the European Central Bank held its key interest rates steady and downplayed risks of damaging deflation in the eurozone.

The US Labor Department is to release January payrolls data later Friday. Robust figures could staunch fears of an economic slowdown as the Federal Reserve reduces its stimulus programme.

Praevidentia Strategy market strategist Masafumi Yamamoto said the dollar should rise towards 103.00 yen if the data meet or beat market expectations.

"If the reading is strong, investors will be confident that the Fed will keep tapering its bond-buying programme leading to gains in the US Treasury yields," he told Dow Jones Newswires.

At a policy meeting in late January, the Bank of Japan decided to stand pat on its own bond-buying scheme, saying its monetary-easing blitz was winning the war on deflation.

Hiromichi Shirakawa, research analyst at Credit Suisse, warned that the stances of developed countries' central banks -- either withholding new easing measures or scaling stimulus back -- could negatively affect the global economy.

"If central banks of developed countries want to correct their emergency monetary easing programmes early, it would put downward pressure on global growth in 2014," he said in a note.

The dollar was mixed against other Asia-Pacific currencies.

The greenback sank to 12,173 Indonesian rupiah from 12,185 rupiah on Thursday, to Sg$1.2684 from Sg$1.2692, and to 62.35 Indian rupees from 62.45 rupees.

It also fell to 1,075.55 South Korean won from 1,076.60 won and to 45.09 Philippine pesos from 45.25 pesos.

It inched up to Tw$30.29 from Tw$30.27, while staying flat at 32.81 Thai baht.

The Australian dollar rose to 91.20 US cents from 89.61 cents, while the Chinese yuan edged up to 16.81 yen from 16.73 yen.


AFP

Ticker Price Volume
QNBK 123.29 21,021
SABIC 98.36 2,678,948
PETRORABIGH 13.62 1,724,546
TAWUNIYA 97.04 165,611
DARALARKAN 6.91 23,025,622
WALAA 28.48 318,680
EMAAR 8.75 9,030,078
US Dollar 1.00
Saudi Riyal 3.75
Derham Emirati 3.67
Qatari Riyal 3.75
Kuwaiti Dinar 0.30
Bahraini Dinar 0.38
Omani Riyal 0.39
Euro 0.84
British Pound 0.76
Japanese Yen 109.79
Pound could slide to $1.10 on no-deal Brexit scenario

17/10/2017

he risk of a no-deal Brexit is playing on investors’ minds. The European Union is likely to confirm this week that Brexit talks have not made sufficient progress to move onto discussions about a fut

Gulfnews

Dollar heads for worst week in five as stocks cheer record streak

15/10/2017

World stocks advanced for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar was on course for its worst week in five as investors awaited US inflation dat

Gulfnews

Pound falls as October blues provoke memories of flash crash

09/10/2017

October blues are starting to weigh on the pound — again. Sterling is headed for its worst week in a year as questions swirl about whether Theresa May will stay or go, even as the prime minister sai

Gulfnews

Dollar lower or steady at best over the coming year: Reuters poll

06/10/2017

Most major currencies will hold on to their gains made in 2017 against the dollar over the coming year, according to a Reuters poll of currency strategists who were not entirely convinced of the U.S.

Reuters

Dollar Gains Before Payrolls; Europe Stocks Drop: Markets Wrap

06/10/2017

The dollar extended gains to an almost three-month high and Treasury yields rose as confidence in the world’s largest economy grows in the buildup to the latest jobs data. European shares edged lower

Bloomberg