TOKYO—The dollar remained steady, albeit at a lower level, against the yen during Asian trading Friday, but riskier Asian currencies fell sharply as the euro-zone crisis and disappointing U.S. data caused the region's stock markets to plummet.
The dollar's fall to Y79.13 overnight, marking its biggest single-day drop in over a year, came after a weak reading on the Federal Reserve Bank of Philadelphia's manufacturing index, and prompted Japanese Finance Minister Jun Azumi to warn Friday that the yen's climb was "volatile" and speculator-driven, and that "appropriate measures" could be taken if necessary.
