Dollar Mixed In Trading Against Southeast Asian Currencies Late Wednesday, Thursday, May 17, 2007 1:32:17 AM

Late Wednesday in New York, the US dollar saw a mixed dealing against the Southeast Asian currencies. While the US dollar showed weakness against its Singapore and the Hong Kong counterparts, it held steady with the Thai Baht. On the other hand, the dollar traded in a tight range versus the Malaysian currency.

The Japanese Q1 GDP data released at 7:50 pm ET, helped the dollar to spike higher versus the Yen. However, the pair largely moved sideways during the late hours. Meanwhile, the Bank of Japan`s rate decision was also released during the session. Following the release, the dollar gained a few pips versus the Yen. The Bank of Japan left its uncollateralized overnight call unchanged at 0.50%. The decision came in line with economists` expectations. The nine-member policy board unanimously voted to hold overnight call rate.

Against the other major Asian currencies, the Indian Rupee weakened slightly versus the Greenback. On the other hand, the US currency drifted down versus the South Korean Won, but the pair bounced back in the very early hours on Thursday.

To the Singapore dollar, the US currency lost ground on late Wednesday in New York. The pair touched as low as 1.5187 at 10:00 pm ET. Soon after, the Greenback gained some momentum and traded at 1.5229 Singapore dollars as of 1:30 am Eastern Time Thursday.

During the late hours on Wednesday, the US currency ticked down versus the Hong Kong dollar. Off 7.8157 by about 9:30 pm ET, the Buck made some advances but the pair followed a sideways movement around midnight. As of 1:30 am Eastern Time Thursday, a Buck was quoted at 7.8186 Hong Kong dollars.

The US dollar started trading higher against the South Korean Won at about 8:00 pm ET Wednesday, but the pair edged down within half an hour. However, at about 12:35 am ET Thursday, the dollar bounced back completely and spiked further higher. As of 1:30 am Eastern Time, a dollar collected 926.9000 Won.

Against the Indian Rupee, the US dollar showed choppy trading in the late deals on Wednesday in New York. However, the pair ticked higher at 11:30 pm ET and has been continuing its uptrend currently. As of 1:30 am Eastern Time Thursday, a dollar was worth 40.8250 Rupees.

Much of the late hours on Wednesday, the US currency held steady versus the Thai Baht. Of late the Greenback has been extending the same trend and fetched 33.4250 against the Thai Baht as of 1:30 am Eastern Time Thursday.

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