TOKYO: The dollar held steady in Asia yesterday on easing concerns over the situation in Ukraine as Russian President Vladimir Putin called for an end to the crisis in the violent-wracked country. In Tokyo midday trading, the dollar fetched 102.51 yen, up from 102.45 yen in New York.
The euro bought $1.3361 and 136.95 yen, mixed from $1.3365 and 136.93 yen in US trade, after the release on Thursday of weak eurozone economic data.
Growth in the 18-country eurozone ground to a halt in the second quarter, dragged down by France and Germany and casting a cloud over the crisis-hit region.
Yesterday, investors moved into the dollar, which tends to decline during times of turmoil, as Putin said Moscow should not “fence itself off from the outside world” despite a plunge in East-West relations over the pro-Kremlin insurgency in Ukraine.
He added that Russia “will do everything that depends on us to make sure that the (Ukrainian) conflict ends as soon as possible”.
The comments also saw the Russian ruble shoot up to a nine-day high against the dollar because investors interpreted them as a signal by Putin that he preferred not to escalate the deadly Ukrainian crisis.
In Iraq, the country’s divisive premier Nouri Al Maliki dropped his bid to stay in power, bowing to huge domestic and international pressure as a jihadist-led offensive threatens to tear the country apart.
AFP
