Dollar Mixed Against Southeast Asian Counterparts Late Thursday, Friday, June 01, 2007 1:32:02 AM

During late Thursday in New York, the US dollar showed a mixed performance against its Southeast Asian counterparts. The US dollar spiked higher versus the Hong Kong dollar, but it held steady with the Thai Baht. On the other hand, the Greenback largely showed choppy trading against the Singapore dollar and the Malaysian Ringgit.

To the other major Asian currencies like the Japanese Yen and the Indian Rupee, the dollar advanced slightly during the session, but it dropped against the South Korean Won. The South Korean Q1 GDP data released during the session is likely to have an effect on trading in the dollar versus the Won.

The Bank of Korea said in a preliminary report that the South Korean GDP expanded 0.9% sequentially in the first quarter. Annually, the economy grew 4.0%, the same as in the prior quarter.

Against the Singapore dollar, the US currency moved sideways in the evening deals on Thursday. The pair slid briefly by about 8:55 pm ET, but it rebounded within a few minutes and ticked further higher. The Greenback lost ground again at about 9:45 pm ET and then showed a choppy trend. As of 1:30 am Eastern Time Friday, the pair traded at 1.5292.

The Greenback made a sharp spike higher versus the Hong Kong dollar at 5:10 pm Eastern Time Thursday. The pair carried over its uptrend for the next few hours and thus it climbed from 7.8073 to 7.8151 by about 11:00 pm ET. Thereafter, the pair dropped slightly and moved sideways. As of 1:30 am ET on Friday, the Greenback was quoted at 7.8143 Hong Kong dollars.

Until about 8:00 pm ET on Thursday, the US dollar traded in a tight range against the South Korean Won. The pair then fell sharply and touched a low of 926.0999 within half an hour. Soon after, the dollar bounced back most of its losses but it edged lower again at about 11:00 pm ET. Lately the dollar is trading slightly higher and collected 927.5999 Won as of 1:30 am Eastern Time Friday.

The US dollar weakened slightly versus the Indian Rupee on late Thursday in New York. However, at about 9:55 pm ET, off 40.2750 the dollar surged to 40.5900 within about a couple of hours. The dollar then shed some pips and it was worth 40.5450 Rupees as of 1:30 am Eastern Time Friday.

The Greenback lost ground against its Thailand counterpart on Thursday afternoon in New York. After hitting as low as 32.6450 by about 3:20 pm ET, the pair made some advances but it held steady within a few minutes. The pair extended the same trend during the late hours and as of 1:30 am Eastern Time Friday, the Greenback fetched 32.8250 against the Thai Baht.

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