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Monday, March 8, 2010

Dollar mixed after US jobs data

Dollar mixed after US jobs dataTOKYO: The dollar was mixed against other major currencies in Asia on Monday as regional markets digested better-than-expected US jobs data and easing worries about Greece's debt woes.

The euro rose to 1.3680 dollars in Tokyo midday trade, up from 1.3621 in New York late on Friday, and to 123.49 yen from 123.00.

The dollar was at 90.42 yen -- off a high of 90.68 -- compared with 90.28 in New York.

Investors sold the safe-haven dollar and the yen after the US government reported fewer-than-expected job losses in February in the world's largest economy.

The euro was well supported after Greece's parliament on Friday approved a new package of tough tax hikes and spending cuts to tackle the country's debt crisis, which has dented the single European currency.

"The euro was bought back because the European Commission is to approve next week Greece's measures to cut its public debt," said Mizuho Corporate Bank market economist Daisuke Karakama.

French President Nicolas Sarkozy said Sunday that European governments were ready to help Greece pull itself out of its financial crisis if necessary.

The French president said governments of the 16-nation eurozone were working on a "certain number of specific measures" to address Greece's debt crisis but did not provide details.

"Greece's efforts should make other European leaders more comfortable with supporting Greece," said Credit Agricole economist Sebastien Barbe.

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