Asian currencies ended the week mostly lower against the dollar amid improved prospects for the US economy.
JAPANESE YEN: The yen slid to a three-month low against the greenback due to brighter prospects for the US economy while Japan's weaker-than-expected economic growth for January-March ruled out an immediate interest rate hike in the country.
The Japanese currency stood at 121.29-31 to the dollar late on Friday after touching the week's low of 121.37 to the dollar, down from 119.87-89 to the dollar a week earlier.
On Friday, the greenback was lifted by better-than-expected US jobless claims data although trading was sluggish ahead of a weekend meeting of Group of Eight finance ministers in Germany.
Meanwhile, the latest Philadelphia Federal economic index for May rose to 4.2 from 0.2 in April, above expectations for a gain to 3.5.
Masaki Fukui, an economist at Mizuho Corporation Bank's forex division, said a series of positive US economic figures were "wiping out lingering concerns about prospects for the US economy."
The central bank decided on Thursday, as expected, to keep its benchmark interest rate unchanged at 0.5 percent after Japanese economic growth slowed sharply in the first quarter of 2007 to a quarterly pace of 0.6 percent.
Together with a surprise drop in machinery orders in March, the growth data underpinned analysts' expectations that the Japanese central bank is unlikely to raise interest rates again before the second half of 2007.
AUSTRALIAN DOLLAR: The Australian dollar is expected to remain near 17-year highs in the coming week, although weak metals prices are likely to limit the currency's short term gains against the greenback, dealers said.
The Australia was trading at 82.19 US cents at 5:00 pm Friday (0600 GMT) down from the previous week's 82.96 US cents.
CommSec chief equities economist Craig James said the currency showed no sign of surrendering the gains that took it above 80 US cents earlier this year.
"If the Australian dollar was to lose momentum it would come courtesy of a sharp slowdown in the Chinese economy."
ANZ international economist Alex Joiner said weak metal prices and signs that the US economy was performing better than expected would keep the Australian at about 82 US cents in the coming week.
"A firmer US dollar and weaker metal prices are expected to keep the bias to the downside and should cap the Australian dollar below 82.70 US cents or 82.50 US cents," he said.
No major economic data is due out in the coming week.
NEWZEALAND DOLLAR: The New Zealand dollar ended the week at 72.90 US cents, slightly down from 72.93 US cents the previous Friday.
The kiwi peaked above 74 US cents midweek after stronger-than-expected retail sales data for the March quarter.
But a stronger US dollar saw the New Zealand currency retreat late in the week.
Bank of New Zealand currency strategist Danica Hampton said that despite the recent bout of NZ dollar weakness, she did not believe the outlook for the kiwi was particularly bearish.
CHINESE YUAN: The yuan closed at a new high of 7.6680 to the dollar Friday on the exchange-traded market, compared with Thursday's close of 7.6724, and a closing price of 7.6775 to the dollar the week before.
On the over-the-counter market, it ended at 7.6686 to the dollar against 7.6707 the previous day.
The central bank had set the yuan central parity rate at 7.6804 to the dollar Friday, compared with 7.6785 on Thursday.
China said Friday it would widen its currency's trading band from 0.3 percent to 0.5 percent on either side of the midpoint, from Monday.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar ended the week at 7.82, from 7.821 a week earlier.
INDONESIAN RUPIAH: The rupiah ended the week at 8,792/8,797 to the dollar, up from 8,855/8,865 the previous Friday.
PHILIPPINE PESO: The Philippine peso was at 46.60 to the dollar on Friday, up from 47.33 on May 11.
SINGAPORE DOLLAR: The dollar was at 1.5274 Singapore dollars Friday against 1.5189 the week before.
SOUTH KOREAN WON: The won closed at 934.10 to the dollar Friday, compared with 926.80 a week earlier, as the government intervened to stem the gains in the local currency.
Dealers said government intervention was expected to ease in coming days as many traders were in long positions after authorities intervened heavily for the past two trading days.
The dollar-won exchange rate is expected to move within a range of between 930 and 938 won when the market opens on Monday.
TAIWAN DOLLAR: The Taiwan dollar closed at 33.371 against the US dollar, down from 33.300 a week earlier.
THAI BAHT: The Thai baht slightly fell against the dollar over the past week on technical selling but still traded at a nine-year high against the greenback, dealers said. The Thai unit closed Friday at 34.60-61 to the dollar, compared with 34.54-56 a week earlier.
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