Dollar weakens in Asia after poor US data

Dollar weakens in Asia after poor US data

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The dollar fell against the yen and euro in Asian trade on Tuesday after weaker-than-expected US manufacturing data sparked renewed fears about the state of the world’s biggest economy.Worries over bailed-out Cyprus and a political stalemate in Italy also pressured the euro as currency markets look to a trio of central bank meetings this week.
In Tokyo morning trade the US dollar bought 93.02 yen, down from 93.27 yen in New York on Monday.
The euro also weakened to 119.69 yen from 119.82 yen while it rose to US$1.2867 from $1.2847, reports The Straits Times. UNB

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