US dollar up; yen sees gains

The US dollar saw gains over the week against most major currencies and adding 1.3 percent in relation to both the euro and sterling to $1.3650 and $2.0290 respectively.

The greenback also gained against most Asian currencies, with the exception of the yen, mostly on the fear that troubles in the US housing market might harm the global economy

The rupee dropped 0.44 percent to Rs40.52 and the Indonesian rupiah was down 1.3 percent to Rp9,240, while the Phillipine peso fell 1 percent to 45.8 to the dollar and the Malaysian ringgit was lower by the same percentage to 3.468 to the dollar.

The US currency gained even more against the Australian and New Zealand dollars as it added 2.5 percent to $0.8580 versus the Australian currency and gaining 3.4 percent on the New Zealand dollar to $0.7710.

The yen, however, added 2 percent to ¥118.90 versus the greenback, while it was up 3 percent each to its value in relation to the pound and the euro, to ¥241.70 and ¥165.50 respectively.

The yen was even higher in against the Australian and New Zealand currencies, up 4.1 percent to ¥102.16 versus the Australian dollar and 4.9 percent higher to ¥91.77 in relation to the New Zealand dollar.

The Swiss franc also saw gains, adding 0.5 percent to both the euro and sterling during the week, to SFr1.6525 and SFr2.4570 respectively, and rising 1.5 percent to SFr1.0395 against the Australian dollar.

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