Dollar weak in Asian trade on Fed concerns

0 Comments | AFP, November, 2007

TOKYO (AFP) — The dollar was weak in Asian trade Monday in the wake of soft US economic news as investors wondered about the US Federal Reserve's interest rate policy action next month, dealers said.

Trade moved in tight ranges as investors squared positions in shortened trade this week ahead of holidays both in Japan and the United States.

The euro firmed to 1.4665 dollars in Tokyo afternoon trade from 1.4659 in New York last week, edging up towards its record high of 1.4752 dollars reached earlier this month.

The dollar slid to 110.59 yen from 111.07, while the single European currency slipped to 162.15 yen from 162.87.

The dollar, which has weakened considerably against the euro and most other currencies this year except the yen, came under...