Asian currencies were mixed against the dollar during the week, with speculation over a revaluation of China's yuan providing support for the yen and other regional units.
JAPANESE YEN: The yen was seen likely to gain ground against the dollar after a holiday-studded week amid persistent speculation that China may soon revalue its currency, the yuan.
The Japanese currency stood at 104.74-76 to the dollar in Tokyo on Friday, compared to 105.86-88 to the dollar on Monday.
There was no trading here from Tuesday to Thursday for three straight public holidays. The Tokyo market was also closed on Friday in the previous week for the so-called Golden Week holiday period.
"As speculation that China may revalue the yuan soon remains in place, market players are continuing to buy the yen," RBS Securities Japan forex sales chief Kosuke Hanao said on Friday.
The yuan is currently pegged to the dollar and it is believed a higher yuan would lead to rises in Asian currencies, including the yen.
"Overseas speculators pulled the yen higher on heightened hopes about a change in yuan policy, while many Japanese players were away on holidays," Bank of Tokyo-Mitsubishi currency analyst Masashi Hashimoto said.
A meeting of US and Chinese monetary officials on yuan reform in Washington on Monday is expected to "further heighten speculation about the revaluation of the yuan," the economic journal Nihon Keizai Shimbun said in its Internet edition on Friday.
AUSTRALIAN DOLLAR: The Australian dollar is expected to gain slightly next week despite indications from the Reserve Bank that interest rates will remain on hold in the short term, dealers said.
The currency ended the week at 77.95 US cents, down from the previous week's 78.08 US cents.
Arab Bank Australia senior foreign exchange dealer Scott Young said the Reserve Bank's quarterly statement on monetary policy, issued Friday, had been widely anticipated by the market.
He said he expected the Australian dollar to push its recent high of 78.4 US cents.
"What the Reserve had led on, a lot of people had suspected anyway, so it didn't really cause any ruptures in the market place," Young said.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 73.45 US cents, up from 72.94 US cents the previous week.
HONG KONG DOLLAR: Hong Kong's US-pegged dollar was at 7.7925 on Friday, from last week's 7.7960.
SINGAPORE DOLLAR: The US dollar was at 1.6391 Singapore dollars on Friday, from 1.6415 dollars the previous week.
INDONESIAN RUPIAH: The Indonesian rupiah closed stronger Friday at 9,483/9,488 to the dollar compared to the previous week's 9,560/9,570.
PHILIPPINE PESO: The Philippines peso traded higher at 54.03 to the dollar on Friday afternoon, compared to 54.16 on April 29.
SOUTH KOREAN WON: The won closed at 998.0 won per dollar Friday, compared with 997.10 won a week earlier.
Dealers said the dollar would find support around this year's lowest point of 997.10 won as government authorities were expected to intervene to prevent the won's further appreciation.
They said the dollar-won exchange rate was likely to move within a new range of 997 won and 1,001 won in the coming week.
TAIWAN DOLLAR: The Taiwan dollar rose 0.38 percent over the week to end at 31.160 against the greenback Friday. It finished at 31.279 a week ago.
THAI BAHT: The baht appreciated against the US dollar over the week, strengthening on the slight drop in world oil prices and in line with gains by the Japanese yen amid thin trading, dealers said.
The Thai unit closed Friday at 39.41-43 baht to one dollar compared to last week's close of 39.52-54.
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