The euro fell against the dollar and the yen on Friday (13 / 5) in Asia, as investors cut their grip on the high-yielding riskier assets amid falling commodity and stock prices.
"For the amount the current market, it is a weakness in the euro to stem from the collapse of oil prices and shares of Japan" said Yuzo Sakai, a senior dealer in Tokyo
When these assets declines, investors often sell off positions in higher-yielding assets including the euro is known as risk-aversion.
In Asian trade Thursday, light, sweet crude for June delivery fell 61 cents, or 0.6% to $ 98.36 per barrel on the New York Mercantile Exchange, while the Japanese Nikkei 225 Stock Average fell 1.3% benchmark at 11:50 pm.
Sakai said the euro ahead in the near future does not look good as well because of anxiety over Greece's debt. The unit could fall to $ 1.4160 and Y114.20 late Friday, he said.
At 11:50 pm, was at $ 1.4196 from $ 1.4244 in New York Thursday, and at Y114.77 from Y115.32.
Many Tokyo dealers anticipate further decline in the euro, despite the acceleration of fall will be measured with investors focused on what Europe's top officials have to say next week.
The market will watch closely the Ecofin meeting next week to see if the meeting would bring detailed and realistic solution to the situation, said Kenichiro Ikezawa, a senior delaer at Daiwa SB Investments.
Dealers also noted a large sell order for the euro around Y116 and $ 1.43.
Dollars, while it was in Y80.85 from Y80.94 in New York last. Its direction in the coming days depending on the movement of the euro, said Ikezawa. Dollar Index, which measures the currency against a number of major currencies, was about 75,383 from 75,185.
Market participants said the dollar would not fall sharply against the yen as Japanese retail investors continued to buy on decline, dealers said, although thus narrows the current flow.
"As the outlook for Japan's economy more uncertain due to the earthquake and the nuclear issue, I do not see a lot of orders from retail investors as well I did earlier this year," said one fund manager.
"For the amount the current market, it is a weakness in the euro to stem from the collapse of oil prices and shares of Japan" said Yuzo Sakai, a senior dealer in Tokyo
When these assets declines, investors often sell off positions in higher-yielding assets including the euro is known as risk-aversion.
In Asian trade Thursday, light, sweet crude for June delivery fell 61 cents, or 0.6% to $ 98.36 per barrel on the New York Mercantile Exchange, while the Japanese Nikkei 225 Stock Average fell 1.3% benchmark at 11:50 pm.
Sakai said the euro ahead in the near future does not look good as well because of anxiety over Greece's debt. The unit could fall to $ 1.4160 and Y114.20 late Friday, he said.
At 11:50 pm, was at $ 1.4196 from $ 1.4244 in New York Thursday, and at Y114.77 from Y115.32.
Many Tokyo dealers anticipate further decline in the euro, despite the acceleration of fall will be measured with investors focused on what Europe's top officials have to say next week.
The market will watch closely the Ecofin meeting next week to see if the meeting would bring detailed and realistic solution to the situation, said Kenichiro Ikezawa, a senior delaer at Daiwa SB Investments.
Dealers also noted a large sell order for the euro around Y116 and $ 1.43.
Dollars, while it was in Y80.85 from Y80.94 in New York last. Its direction in the coming days depending on the movement of the euro, said Ikezawa. Dollar Index, which measures the currency against a number of major currencies, was about 75,383 from 75,185.
Market participants said the dollar would not fall sharply against the yen as Japanese retail investors continued to buy on decline, dealers said, although thus narrows the current flow.
"As the outlook for Japan's economy more uncertain due to the earthquake and the nuclear issue, I do not see a lot of orders from retail investors as well I did earlier this year," said one fund manager.
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