(HONG KONG) Asian currencies ended last week mostly higher against the US dollar, amid continuing worries over the US outlook. Japanese yen: The yen eased against the dollar last week, but market worries over the US outlook weighed on the US currency, dealers said. The yen fell to 115.11 against the dollar in Tokyo on Friday from 114.83 a week ago.
Dealers said that the market was cautious ahead of the Bank of Japan's closely watched Tankan survey of business sentiment due today. 'The yen will not move before (traders) see the Tankan figures,' said HSBC currency expert Kosuke Hanao.
The lingering problem with the US mortgage sector kept investors wary of the dollar. 'Market sentiment towards the dollar is still very weak and the overall trend is to sell the greenback,' said Marito Ueda, a currency trader at FX Prime.
Dealers said the Japanese ruling party's choice of moderate veteran Yasuo Fukuda as prime minister had little impact on the yen.
There were signs the new government would take a more relaxed attitude to fiscal consolidation than the previous one, which would be positive for the yen in the short term because of higher economic growth and interest rates, according to Barclays Capital analysts.
Australian dollar: The Australian dollar is likely to continue to strengthen this week and could break the 89 US cents level, dealers said. The Australian dollar ended last week at a two-month high, trading at 88.26 US cents at 5pm, well above the previous week's 86.83 US cents. Dealers said the 'Aussie' was supported by high commodity prices and a widening interest rate differential with the US.
New Zealand dollar: The New Zealand dollar ended last week at 75.70 US cents, up from 74.42 the previous Friday. The New Zealand dollar has risen 14 per cent since Aug 17, recovering from the global market turmoil over fears of a global credit squeeze.
Hong Kong dollar: The US-pegged Hong Kong dollar ended the week at 7.758 to the US unit, from 7.786 a week earlier.
Chinese yuan: The yuan closed at 7.5055 to the dollar last Friday on the exchange-traded market, compared to Thursday's close of 7.5126, and a closing price of 7.5020 to the dollar the week before. On the over-the-counter market, it ended at 7.5061 to the dollar against 7.5146 the previous day.
Indonesian rupiah: The rupiah ended last week trading at 9,145/9,150 to the dollar, compared to 9,165/9,170 to the dollar a week earlier.
Philippine peso: The peso traded higher at 45.04 to the dollar on Friday afternoon, from 45.310 to the dollar on Sept 21.
Singapore dollar: The US dollar was at S$1.4903 on Friday from S$1.5033 the previous week.
South Korean won: The won strengthened for five consecutive days against the dollar, as the greenback has been under heavy selling pressure abroad following the US rate cuts of the previous week. The South Korean currency was at 915.10 won to the dollar on Friday, compared with 921.10 won a week ago.
Taiwan dollar: The Taiwan dollar rose 1.13 per cent to close at 32.580 against the US dollar. The local currency closed at 32.953 a week earlier.
Thai baht: The Thai baht changed little against the dollar last week as investors stayed on the sidelines amid growing speculation over a rate cut at the central bank's policy meeting early this month, dealers said. The Thai currency closed at 34.26-27 to the dollar, against 34.22-24 a week earlier. -- AFP
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