Asian currencies mainly gained this week against a plummeting US dollar as weak figures raised further concerns about the American economy.
JAPANESE YEN: The Japanese yen advanced during the week as yen-buying sentiment was boosted by strong economic data and growing expectations that the Bank of Japan would soon raise interest rates, dealers said.
The yen gained to 115.76 to the dollar late Friday, compared with 116.37 a week earlier.
The Japanese currency rose against the dollar on Wednesday after unexpectedly strong Japanese industrial output data.
"The surprisingly strong industrial production figures raised market expectations that the Bank of Japan will raise interest rates next month," said Hidenori Kato, head of foreign exchange sales at Societe Generale.
Japan's industrial output grew 1.6 percent in October from September, beating market expectations of a 0.4 percent fall.
The yen sank temporarily on Thursday after the dollar regained on the US revision of September quarter Gross Domestic Product (GDP) growth to 2.2 percent from 1.6 percent. "But in the mid- to longer-term until around March, I think the yen will be bought more due to a demand-supply gap, prospects of narrowing interest rate differences between Japan and the US, and the repatriation of profits which Japanese companies earn overseas," said Hiroshi Sakurai, market researcher at Mizuho Investors Securities.
AUSTRALIAN DOLLAR: The Australian dollar is expected to rise further next week, but is unlikely to break its long held ceiling of 80 US cents, dealers said.
They said the local currency was already overvalued, commodity prices were set to remain constrained in the near term, and the US dollar's latest bout of weakness was not likely to last long.
The domestic unit was trading at 79.03 US cents at 5:00 pm Friday (0600 GMT), up from the previous week's 77.52 US cents.
The US dollar plummeted during the week against most currencies including the local unit due to expectations weak US economic data would prompt the US Federal Reserve to cut interest rates relative to other countries next year.
"As has been the case over much of 2006, the fortunes of the Aussie dollar will continue to be dictated by its US counterpart," CommSec chief equities economist Craig James said.
However, the greenback appeared to be at a crossroads, with the Federal Reserve still leaning toward rate hikes to combat inflationary pressures, and so much depended on the release of pivotal jobs data on Friday. "If employment prints on the strong side of market expectations, with stronger wage growth thrown in for good measure, the greenback will bounce back against major currencies," James said. Should that occur, the Aussie dollar would likely slip back below 78 US cents, he said.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 68.52 US cents, up from 67.05 US cents the previous Friday.
The kiwi dollar was benefiting from soft US data which was prompting talk of interest rate cuts to avoid recession, ANZ bank senior dealer Mark Elliott said. "The world is selling US dollars, and it doesn't look finished," he said, adding the kiwi could climb to 71-72 US cents over the next month or two.
CHINESE YUAN: The yuan closed at 7.8325 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.8311, and a closing price of 7.8506 to the dollar the week before.
On the over-the-counter market, it ended at 7.8360 to the dollar against 7.8334 the previous day.
The central bank had set the yuan central parity rate at 7.8331 to the dollar Friday, compared with 7.8436 on Thursday.
The People's Bank of China allows a trading band of 0.3 percent on either side of the midpoint.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.775, fractionally down from the previous week.
INDONESIAN RUPIAH: The rupiah ended the week trading at 9,160/9,165 to the dollar, compared to 9,140/9,145 to the dollar one week earlier
PHILIPPINE PESO: The Philippine peso fell to 49.76 to the dollar on Friday from 49.71 to the dollar on November 24.
SINGAPORE DOLLAR: The dollar was at 1.5427 Singapore dollars on Friday from 1.5574 the previous week.
SOUTH KOREAN WON: The won closed at 928.60 won per dollar Friday, compared with 932.60 won a week earlier, reflecting the global weakness of the greenback.
Dealers said the dollar-won exchange rate may fall below the year's low of 927.90 won achieved in May should the dollar further weaken against the yen to fall below the 115 yen level.
TAIWAN DOLLAR: The Taiwan dollar rose 1.41 percent in the week to December 1 to close at 32.370 against the US dollar. The local currency closed at 32.833 a week earlier.
THAI BAHT: The Thai baht hit a nine-year high against the dollar, despite the Bank of Thailand's intervention, as foreign investors have shifted investments from US and European markets to Asia, partly on speculation.
The Thai unit closed Friday at 35.89-92 baht to the dollar, up from 36.51-53 a week earlier.
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