AGL 38.16 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 134.19 Increased By ▲ 5.22 (4.05%)
BOP 8.85 Increased By ▲ 1.00 (12.74%)
CNERGY 4.69 Increased By ▲ 0.03 (0.64%)
DCL 8.67 Increased By ▲ 0.35 (4.21%)
DFML 39.78 Increased By ▲ 0.84 (2.16%)
DGKC 85.15 Increased By ▲ 3.21 (3.92%)
FCCL 34.90 Increased By ▲ 1.48 (4.43%)
FFBL 75.60 Decreased By ▼ -0.11 (-0.15%)
FFL 12.74 Decreased By ▼ -0.08 (-0.62%)
HUBC 109.45 Decreased By ▼ -0.91 (-0.82%)
HUMNL 14.10 Increased By ▲ 0.09 (0.64%)
KEL 5.40 Increased By ▲ 0.25 (4.85%)
KOSM 7.75 Increased By ▲ 0.08 (1.04%)
MLCF 41.37 Increased By ▲ 1.57 (3.94%)
NBP 69.70 Decreased By ▼ -2.62 (-3.62%)
OGDC 193.62 Increased By ▲ 5.33 (2.83%)
PAEL 26.21 Increased By ▲ 0.58 (2.26%)
PIBTL 7.42 Increased By ▲ 0.05 (0.68%)
PPL 163.85 Increased By ▲ 11.18 (7.32%)
PRL 26.36 Increased By ▲ 0.97 (3.82%)
PTC 19.47 Increased By ▲ 1.77 (10%)
SEARL 84.40 Increased By ▲ 1.98 (2.4%)
TELE 7.99 Increased By ▲ 0.40 (5.27%)
TOMCL 34.05 Increased By ▲ 1.48 (4.54%)
TPLP 8.72 Increased By ▲ 0.30 (3.56%)
TREET 17.18 Increased By ▲ 0.40 (2.38%)
TRG 61.00 Increased By ▲ 4.96 (8.85%)
UNITY 28.96 Increased By ▲ 0.18 (0.63%)
WTL 1.37 Increased By ▲ 0.02 (1.48%)
BR100 10,786 Increased By 127.6 (1.2%)
BR30 32,266 Increased By 934.6 (2.98%)
KSE100 100,083 Increased By 813.5 (0.82%)
KSE30 31,193 Increased By 160.9 (0.52%)

The dollar was mixed in Asian trade on Friday as lacklustre US economic data cooled speculation that the Federal Reserve might raise interest rates sooner than previously expected, dealers said. At the same time the euro was also weighed down by uncertainty surrounding the economic outlook in Europe and prospects of monetary policy tightening in the region.
The dollar dropped to 91.07 yen in Tokyo afternoon trade from 91.23 in New York late Thursday. The euro slid to 1.4415 dollars from 1.4501 while holding steady at 131.28 yen.
Traders scaled back their expectations of Fed rate hikes following disappointing retail sales and jobless claims data in the United States, NAB Capital strategist John Kyriakopoulos said. New York Federal Reserve president William Dudley said the fed funds rate could remain low for an extended period between six months and as long as two years. Investors were waiting for fresh leads on prospects for the US economy from a slew of data out later in the day, including inflation, and manufacturing activity and consumer confidence.
"These data should do nothing to hurry the Fed from exiting too quickly from accommodative policies," Calyon analyst Sebastien Barbe said.
US retail sales, a major indicator of the consumer spending that drives two-thirds of US economic activity, fell unexpectedly by 0.3 percent in December, overturning analyst expectations for a 0.5 percent gain. The Labour Department meanwhile reported initial claims for unemployment insurance benefits rose more than expected last week.
The euro was bogged down after European Central Bank governor Jean-Claude Trichet warned that an economic recovery in the common currency zone was "subject to uncertainty" due to Greece's debt woes. The comments came after the bank kept its main refinance rate unchanged at a record low of 1.0 percent against such a backdrop, the euro-dollar exchange rate may lack a clear direction in the near term, said Barbe. Against Asian currencies, the dollar rose to 1,123.08 South Korean won from 1,120.75 a day earlier, to 9,200.00 Indonesian rupiah from 9,161.25, to 45.80 Philippine pesos from 45.75 and to 1.3888 Singapore dollars from 1.3863. But the greenback crept lower to 31.70 Taiwan dollars from 31.75 and to 32.87 Thai baht from 32.91.

Copyright Agence France-Presse, 2010

Comments

Comments are closed.