TOKYO, Nov 24, 2010 (AFP)
The euro edged higher Wednesday in Asian trade despite Standard & Poor’s move to lower its credit ratings for Ireland, while the won fell amid the highest tensions for years on the Korean peninsula.
The single unit rebounded from two-month lows hit Tuesday to 1.3407 dollars in early trade in Tokyo, compared with 1.3364 dollars in New York Tuesday, with the downgrade of Ireland having already been priced in, said analysts.
The downgrade “has been factored into the market”, Shinkin Central Bank senior dealer Shinichi Hayashi told Dow Jones Newswires.
The market’s focus has already shifted to Spain and Portugal and whether they will follow Ireland in seeking financial rescue packages, said Hayashi.
Against the yen, the single currency traded at 111.51, compared with 111.17 in New York.
Investors covered short positions ahead of the US Thanksgiving holiday on Thursday, but the euro continued to face pressure from worries over the debt problems of some eurozone economies.
The rating agency’s move followed a proposed bailout of debt-laden Ireland by the European Union and the International Monetary Fund of up to 90 billion euros (122 billion dollars).
Standard & Poor’s said it is “lowering its long-term sovereign credit rating on the Republic of Ireland to ‘A’ from ‘AA-‘ and its short-term rating to ‘A-1’ from ‘A-1+’.”
S&P said it was putting Ireland on credit watch “with negative implications”.
Tensions on the Korean peninsula remained at their highest in years after North Korea fired artillery shells on to a South Korean island Tuesday afternoon, killing at least two South Korean soldiers and sparking global condemnation.
The won fell to 1,160.20 against the dollar, from 1,129.80 in New York overnight.
The greenback held relatively steady against the yen, standing at 83.20 compared with 83.16 yen in New York, with the pair benefitting from the erosion of risk appetite on eurozone worries and Korea tensions.
Rupiah masih akan tertekan oleh sentimen konflik Korea serta kembali munculnya kekhawatiran akan dana talangan Irlandia.
“Rupiah pada hari ini masih akan tertekan oleh retorika tajam di Korea Utara dan Korea Selatan. Ini memberi sentimen negatif,” ungkap Analis Pasar Uang Bank Mandiri Mochammad Doddy kepada INILAH.COM, Rabu (24/11). Ia memprediksi rupiah akan bergerak pada kisaran 8.970-9.020 pada perdagangan hari ini.
Sumber : INILAH.COM