Tokyo - The dollar held firm against other currencies on Friday, after an upbeat US jobs report added to the chances the Federal Reserve will increase interest rates as global peers stick to easy money policies.
The greenback was at 120.57 yen in Tokyo trade compared with 120.59 yen in New York late on Thursday but well up from 120.28 yen in Tokyo earlier on Thursday.
The US Labour Department reported on Thursday that the number of first-time unemployment claims filed in the past four weeks had fallen to a nearly 15-year low, suggesting a stronger labour market.
The robust data stoked speculation about the Federal Reserve's plan to raise interest rates for the first time in nine years.
“We're moving back to a rate-differential story,” Mike Moran, head of macro research for the Americas at Standard Chartered, told Bloomberg News.
“The dollar correction of the last couple of weeks is starting to run its course.”
The euro bought $1.0672 and 128.65 yen on Friday against $1.0659 and 128.55 yen in US trade after Greece honoured a loan payment due Thursday.
Greece made a scheduled 459 million euro repayment to the IMF but failed to dispel market concerns over its solvency as it labours to reach a deal with its creditors to reform its bailout.
Athens has until the end of April to come to an agreement with those who have loaned it money.
Later this month, it has to make interest payments of nearly 400 million euros and roll over 2.4 billion euros in six- and three-month sovereign bills due to mature on April 14 and 17. Failure to do so would see it default and likely end up crashing out of the eurozone.
AFP