Asian currencies remained steady against the US dollar this week in light trading ahead of the New Year holiday.
JAPANESE YEN: The yen moved narrowly against the dollar in the holiday-shortened week ahead of the New Year break amid the prospect that it would remain top heavy due to higher US interest rates.
The Japanese currency stood at 117.47-49 late Friday, compared with 117.48-51 to the dollar on Thursday in the preceding week.
There had been no trading in Tokyo on the preceding on Friday, as well as last Monday, for public holidays. Japanese financial markets will be also closed in the first three days of 2006 for New Year holidays.
The dollar eased mid-week amid caution over the US economy in view of the changes in yields of US treasuries. US two-year Treasury yields rose above 10-year Treasury yields on Tuesday for the first time in about five years.
Market players were waiting for the release of a key US economic indicator on January 3 - the monthly report on the US manufacturing sector by the Institute for Supply Management (ISM).
Sales of existing US homes dropped 1.7 percent in November while the stock of unsold homes on the market climbed to a 19-year high, the National Association of Realtors said Thursday.
But dealers said interest rate differentials between the United States and Japan remain a factor drawing investors to the US unit.
It was a winning year for the dollar, boosted by interest rate hikes in the United States, as it gained ground by about 15 yen from the mid-102 yen level at the beginning of 2005.
AUSTRALIAN DOLLAR: Analysts expect the Australian dollar to remain rangebound in the coming week after it showed little movement ahead of Friday's close.
The Australian dollar was trading at 73.39 US cents at 3:30 pm Friday (0430 GMT), up slightly on the previous week's 73.08 US cents.
Macquarie Bank divisional director Geoff Bowmer said trading volumes were thin over the New Year period and the Australian dollar was unlikely to experience any significant shifts.
NEW ZEALAND DOLLAR: The New Zealand dollar ended the week at 68.43 US cents, up from 67.25 US cents the previous Friday.
Trading volumes are expected to be thin next week, with public holidays on Monday and Tuesday to mark the New Year.
CHINESE YUAN: The Chinese yuan closed at 8.0702 to the US dollar Friday, the central bank said in a statement on its website. That compared with a closing price of 8.0762 the previous week.
HONG KONG DOLLAR: The US-pegged Hong Kong dollar closed Friday at 7.759 from 7.7525 the previous week.
INDONESIAN RUPIAH: The rupiah closed Thursday to end the holiday-shortened week slightly stronger at 9,835-9,840 compared to last week's close of 9,850-9,860.
PHILIPPINE PESO: The Philippine peso traded higher at 53.09 to the dollar on December 30, as compared to 53.27 to the dollar on December 23.
SINGAPORE: The dollar was at 1.6636 Singapore dollars on Friday compared with 1.6683 the previous week.
SOUTH KOREAN WON: The won closed at 1,011.60 won per dollar on Thursday, the last trading day for 2005, compared with 1,013.50 won on Friday the previous week.
Dealers said that in the absence of momentum, the won was expected to move within a limited range of between 1,009 won and 1,015 won per dollar when the market reopens on Monday.
TAIWAN DOLLAR: The Taiwan dollar rose 0.99 percent in the week to December 30 to close at 32.85 against the US dollar. The local currency closed at 33.178 a week earlier.
THAI BAHT: The Thai baht fell slightly against the dollar as investors sold the currency to adjust their positions ahead of the New Year holiday, dealers said.
The Thai unit closed at 41.02-04 to the greenback on Friday, down from 40.92-94 a week earlier.
Against the euro, the Thai baht traded at 48.56-59 on Friday, little changed from 48.61-65 a week earlier.