MW: Dollar mostly slips in Asian trading but gains on yen
By MarketWatch
TOKYO (MarketWatch) - The dollar slipped against most major counterparts in Asian trading Monday, gaining only on its Japanese counterpart, as a good day for Asian equities decreased the safe-haven appeal of lower-yielding currencies.
"The main theme today was Japanese-yen weakness, which came amid a backdrop of equity-market gains and associated risk appetite, an environment that is typically bearish for the low-yielding currency," said currency analysts at Action Economics.
Finance Minister George Papaconstantinou apparently helped calm investors' fears Sunday, which surfaced over the weekend after Greece announced it would trigger a joint European Union-International Monetary Fund rescue package. See full story on Greece rescue package.
Against its Japanese counterpart, the dollar (CUR_USDYEN 94.0900, -0.0600, -0.0637%) bought 94.17 yen, up from 94.09 yen in late North American trading on Friday.
The euro (CUR_EURUSD 1.3304, -0.0041, -0.3072%) rose to $1.3381 from $1.3377 late Friday.
The dollar index (DXY 81.59, +0.12, +0.14%) , which measures the U.S. unit against a trade-weighted basket of six other currencies, traded at 81.291, down from 81.412 late Friday.
On Friday, the euro posted solid gains against the dollar as European leaders expressed support for Greece after it formally requested financial aid from the IMF and E.U. See Friday's Currencies report.