CURRENCIES: Dollar Recovers Some Ground In Asian Trading
By Michael Kitchen
The U.S. dollar rose against its Japanese and European rivals in Asian trading Friday, paring some of its losses from North American action.
The greenback bought 93.73 yen, up from 93.36 yen in late North American trading Thursday, with a Dow Jones Newswires report attributing some of the yen's weakness to Japanese importers buying euros and dollars for month-end settlements.
The euro also lost ground against the U.S. unit, buying $1.4351, down from $1.4364 late Thursday. A Reuters report cited profit-taking by European banks after the dollar hit a monthly low the previous day.
Sterling rose, however, with the British pound changing hands for $1.6276, up from $1.6230 in North American trade.
The dollar index (DXY), which tracks the greenback against a trade-weighted basket of six major currencies, was at 78.10, up from 78.00 late Thursday.
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