Asian currencies mostly weaker against dollar

Asian currencies ended the week mainly lower against the dollar, with the yen in particular expected to weaken further amid a gloomy outlook for the economy.
JAPANESE YEN: The yen slipped to its lowest level in three and a half months against the dollar amid negative prospects for Japan’s economic recovery, as the currency’s ‘safe haven’ status was called in question.
The yen stood at 97.87 against the dollar on late Friday, down from 94.09 against the dollar a week earlier. It went as low as 98.61 against the dollar.
AUSTRALIAN DOLLAR: The Australian dollar was likely to trade in a tight range next week, with weak US data and an expected cut to the official cash rate to weigh on the currency, dealers said.
The Australian dollar closed on Friday at 64.58 US cents, up from the previous week’s close of 63.86 cents.
CHINESE YUAN: On the over-the-counter market, it ended at 6.8403 Friday to the dollar, compared with Thursday’s finish of 6.8400, and a closing price of 6.8372 to the dollar the week before.
HONG KONG DOLLAR: The US-pegged Hong Kong unit was at 7.7538 to the dollar, from 7.755 a week earlier.
SINGAPOREAN DOLLAR: The Singapore dollar was at 1.5461 to the US dollar from 1.5384 the previous week.

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Source: Agence France-Presse . Hong Kong