The euro fell against the dollar in Asia on Thursday in hedge funds and other short-term players sold the single currency after some economic data for the disappointing Chinese investors to curb appetite for currency more dangerous.
But the euro is likely to remain on its upward trend against the bill at the weekend and the players continue to expect that the returns are higher for the unity of the United States will maintain demand, dealers said.
During Asian trading Thursday, the euro fell after data showed China's economy grew by 8.9 percent in July and September, which is less than the average growth forecast from 9.1 percent in the Dow Jones survey. The euro fell to its lowest level of $ 1.4978 after data 0200 GMT, down from a high record of $ 1.5036 in early trading in Tokyo this morning.
Sell the euro is a classic case of "rumors about the purchase and sale of reality," said Yuji Saito, president of foreign exchange at Societe Generale. Many participants have speculated that the Chinese data can bring a positive surprise would be the benefits and risks and sensitive unit, he said.
The players can also sell the single currency as a weaker-than-expected Chinese growth figures paid in December crude oil futures in New York Mercantile Exchange, down 47 cents at $ 80.90/bbl, traders said. The euro and often moves in the place according to the price of crude oil.
In addition to profit, may have pushed the currency to $ 1.4950 later in the World, "said Osao Iizuka head of foreign exchange trading at Sumitomo Trust and Banking. Many participants are looking to reap profits on the euro after earlier in the morning session to renew a 14-month high U.S. $ 1.5047 recorded at night, Iizuka added.
At 0450 GMT, the single currency traded hands of U.S. $ 1.4993 against $ 1.4998 late Wednesday in New York.
But in the end of this week, the euro may expand the recent rise. The players can test $ 1.5050 on the view that the currency higher interest rates in the euro area will remain attractive in the coming months, "Iizuka Sumitomo Trust and Banking.
In another place, and the dollar is Y91.15 more 0450 GMT, compared with Y90.89 late Wednesday in New York. United States and the unit is likely to hover in Y90.40 - Y91.40 range for the rest of the day, "said Yuzo Sakai, Director of Business Promotion in foreign exchange in Tokyo, and Ueda Harlow. Y136.66 the euro is more when compared with Y136.32, and probably stick for Y135.10 - Y137.10 band for the rest of the day, said Sakai.
Cash index, which measures the value of the currency against six major units, including the euro, is 75.22, up slightly from 75.17 late Wednesday in New York.
But the euro is likely to remain on its upward trend against the bill at the weekend and the players continue to expect that the returns are higher for the unity of the United States will maintain demand, dealers said.
During Asian trading Thursday, the euro fell after data showed China's economy grew by 8.9 percent in July and September, which is less than the average growth forecast from 9.1 percent in the Dow Jones survey. The euro fell to its lowest level of $ 1.4978 after data 0200 GMT, down from a high record of $ 1.5036 in early trading in Tokyo this morning.
Sell the euro is a classic case of "rumors about the purchase and sale of reality," said Yuji Saito, president of foreign exchange at Societe Generale. Many participants have speculated that the Chinese data can bring a positive surprise would be the benefits and risks and sensitive unit, he said.
The players can also sell the single currency as a weaker-than-expected Chinese growth figures paid in December crude oil futures in New York Mercantile Exchange, down 47 cents at $ 80.90/bbl, traders said. The euro and often moves in the place according to the price of crude oil.
In addition to profit, may have pushed the currency to $ 1.4950 later in the World, "said Osao Iizuka head of foreign exchange trading at Sumitomo Trust and Banking. Many participants are looking to reap profits on the euro after earlier in the morning session to renew a 14-month high U.S. $ 1.5047 recorded at night, Iizuka added.
At 0450 GMT, the single currency traded hands of U.S. $ 1.4993 against $ 1.4998 late Wednesday in New York.
But in the end of this week, the euro may expand the recent rise. The players can test $ 1.5050 on the view that the currency higher interest rates in the euro area will remain attractive in the coming months, "Iizuka Sumitomo Trust and Banking.
In another place, and the dollar is Y91.15 more 0450 GMT, compared with Y90.89 late Wednesday in New York. United States and the unit is likely to hover in Y90.40 - Y91.40 range for the rest of the day, "said Yuzo Sakai, Director of Business Promotion in foreign exchange in Tokyo, and Ueda Harlow. Y136.66 the euro is more when compared with Y136.32, and probably stick for Y135.10 - Y137.10 band for the rest of the day, said Sakai.
Cash index, which measures the value of the currency against six major units, including the euro, is 75.22, up slightly from 75.17 late Wednesday in New York.
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