Most Asian currencies ended the week slightly weaker against the dollar, with all eyes on a possible US interest rate rise next Tuesday.
JAPANESE YEN: /The yen fell back against the dollar from its midweek firmness as market players awaited an anticipated further rise in US interest rates. The Japanese unit stood at 104.81-84 to the dollar at 5:00 pm (0800 GMT) Friday, down from 104.10-12 a week earlier.
It rallied on Wednesday on news the US current account deficit, a broad measure of trade and investment flows, widened to a record high.
After a public holiday next Monday, the market will focus on a meeting on Tuesday of the US Federal Open Market Committee which is widely expected to raise its key short-term interest rate by 0.25 percentage point.
"While widening interest rate differentials between the US and other nations, such as Japan and those in Europe, continue to support the dollar, the expected 25-basis point hike alone is not likely to give any boost to the dollar," Mitsubishi Securities foreign exchange manager Minoru Shioiri said.
He added: "As there are strong concerns that surging crude oil prices and rising commodity prices could threaten US economic growth, the underlying bearish sentiment towards the dollar is likely to continue."
The market is keen to see if the Fed will drop the phrase "measured pace" in its description of rate rises, the economic journal Nihon Keizai Timber said in its Internet edition. "It will be a test for the dollar's recovery in April and afterwards," it said.
AUSTRALIAN DOLLAR: The unit is expected to test the 80 US cent barrier next week as the market anticipates a US interest rate rise, dealers said.
The dollar closed at 79.3 US cents Friday, down from the previous week's 79.62 US cents.
Westpac Banking currency strategist Robert Rennie said the Australian dollar had been threatening to break 80 US cents for a number of weeks on the back of strong commodities prices, and a US rate rise could provide the final push.
NEW ZEALAND DOLLAR: The kiwi ended the week at 74.36 US cents, up from the previous week's close of 73.78 US cents.
HONG KONG DOLLAR: Hong Kong's US-pegged dollar was at 7.799 on Friday, unchanged from a week earlier.
SINGAPORE DOLLAR: The US dollar was at 1.6270 Singapore dollars on Friday from 1.6221 the previous week.
INDONESIAN RUPIAH: The rupiah closed little changed at 9,365/9,370 to the dollar compared to 9,350-9,360 a week earlier.
PHILIPPINE PESO: The Philippine peso fell to 54.34 to the dollar Friday compared to 54.13 on March 11.
SOUTH KOREAN WON: The won closed the week lower at 1,004.90 won per dollar Friday, compared with 1,000.30 won a week earlier, as overseas dealers became net buyers and domestic banks started buying dollars to cover shortages of the greenback.
A dealer with ABN Amro said demand and supply was near a point of equilibrium in the Seoul forex market.
"There is a growing possibility that the dollar might strengthen again should overseas players continue buying the US currency and demand for the transfer of dividends increase," he said.
TAIWAN DOLLAR: The Taiwan dollar declined 10.77 percent over the week to end at 31.152 against the greenback Friday. It finished at 30.820 a week earlier.
THAI BAHT: The baht weakened against the dollar over the week due to high oil prices and the government's likely easing of subsidies for domestic diesel prices, coupled with profit-taking in local stocks by overseas investors.
It closed Friday at 38.50-54 baht to one dollar against the previous week's close of 38.30-32.
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