Asian currencies rose against the dollar, amid widespread hopes that the US Federal Reserve will stop raising US interest rates after this week's key meeting.
JAPANESE YEN: The yen rose further in the past week amid persistent expectations the Federal Reserve will stop raising US interest rates following this week's key meeting, dealers said.
The Japanese currency stood at 113.62 to the dollar late Tuesday in Tokyo before three consecutive holidays to Friday, up from 114.25 on April 28.
The dollar regained some lost ground against the yen in Singapore on Friday, but the Japanese unit was still in the upper half of the 113-yen range.
The "underlying tone for the dollar is weak, weighed down by a renewed focus on global imbalances and the Fed tilting towards a pause," DBS Bank said in a research note, referring to the US central bank.
Expectations the Fed will halt in raising US interest rates, along with contrasting predictions of tighter monetary policy from the European Central Bank and the Bank of Japan, have been partly behind the dollar's recent slump.
Other factors such as the US current account deficit and worries over Iran's nuclear program have also negatively affected the US currency.
AUSTRALIAN DOLLAR: The Australian dollar seemed to have peaked in the past week amid weakness in the greenback and the central bank's decision to lift official cash rates, dealers said Friday.
The currency was trading at 76.84 US cents at 5:00 pm (0600 GMT) Friday, well above the previous week's 75.47 US cents.
Westpac chief currency strategist Robert Rennie said while the Aussie was trading well on Friday, support for the currency at the 77 US cent level was "pretty thin."
"I would argue if you ignored the US dollar, there's a strong argument to say the price we've priced in is all the good news and none of the bad," he said.
The Reserve Bank of Australia on Wednesday announced a 25 basis point increase in interest rates to 5.75 percent but hinted Friday that another interest rate rise was not on the cards in the near future.
Rennie also said that retail data out in the week ahead would be less than positive.
"The data we will get next week will be much less supportive for the Aussie," he said.
Rennie said the Australian currency would still be affected by any movements in the US dollar.
"If we do get a weaker US dollar obviously the Aussie will benefit from that, (but) I don't know it's going to benefit that much," Rennie said.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 64.13 US cents, up from 63.36 the previous Friday.
The kiwi faded through the week after hitting 64.45 on Monday.
CHINESE YUAN: There was no trade in China during the week due to the Golden Week public holiday.
HONG KONG DOLLAR: The US-dollar pegged Hong Kong dollar closed the week at 7.7539 from the previous week's close of 7.7548.
INDONESIAN RUPIAH: The rupiah ended the week slightly stronger at 8,782-8,787, compared to the previous week's close of at 8,800-8,810.
PHILIPPINE PESO: The Philippine peso strengthened to 51.61 to the dollar on Friday from 51.785 to the dollar on April 28.
SINGAPORE DOLLAR: The dollar was at 1.5762 Singapore dollars on Friday from 1.5824 the previous week.
SOUTH KOREAN WON: The won closed at 939.60 won per dollar Thursday in the holiday-shortened week, compared with 943.40 won per dollar on Friday the previous week.
The dollar-won exchange rate rebounded on Thursday after President Roh Moo-Hyun expressed concern over the fast appreciation of the won.
Dealers said the won was expected to move within a narrow range in the coming week because of the possibility of government intervention.
TAIWAN DOLLAR: The Taiwan dollar rose 0.84 percent in the week to May 5 to close at 31.646 against the US dollar. The local currency closed at 31.913 a week earlier.
THAI BAHT: The Thai baht weakened against the dollar over the holiday-shortened week after the greenback was boosted by improved US economic data, dealers said.
The Thai unit closed Thursday at 37.81-83 baht to one dollar compared to last's week close at the six-year high of 37.49-51.
Against the euro, the Thai currency also lost, closing the week at 47.54-60 baht to one euro compared to previous week's close of 47.11-17. The market was closed Monday and Friday for public holidays.
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