TOKYO: The euro was mixed in Asian trade on Tuesday after hitting a six-week high in New York as Greece launched its bid to buy back privately held debt at a big discount, a key part of Athens' bailout plan.
The single currency bought $1.3054 and 107.14 yen in Tokyo afternoon trading, from $1.3051 and 107.36 yen in New York late Monday where it had soared at one stage to $1.3076, its highest level since October 22.
The dollar was weaker against the Japanese currency at 82.11 yen from 82.24 yen on the back of poor US manufacturing data.
On Monday in New York the euro was buoyed as Greece launched the debt buyback programme, an underlying condition for Athens to receive a crucial 43.7-billion-euro instalment of bailout funds from the European Union and International Monetary Fund.
Separately, preparations for Spain to recapitalise its banks using about 39.5 billion euros in loans were given the green light at Eurogroup talks in Brussels, as expected.
"A climb to $1.3100 cannot be ruled out," Marito Ueda, senior managing director at FX Prime Corp, told Dow Jones Newswires.
But "such a gain doesn't signal a sea change for the euro. The euro is not a buy currency, given the dismal economic fundamentals there".
The Australian dollar got a boost after the country's central bank on Tuesday cut rates by 25 basis points to a record low of 3.0 percent, with the unit jumping to US$1.0444 from $1.0421 before the decision and $1.0400 on Monday.
The US dollar was weighed after the Institute for Supply Management said its closely-watched index on manufacturing activity for November fell into contraction after two months of expansion.
It has also been hurt by gridlocked on averting the US fiscal cliff of tax hikes and spending cuts, which are due to come into effect on January 1. Without a deal the package will likely tip the economy into recession.
The dollar was mostly higher against other Asia-Pacific currencies.
It rose to 1,083.45 South Korean won from 1,083.30 won on Monday, to 54.94 Indian rupees from 54.62 rupees, to 40.92 Philippine pesos from 40.85 pesos, and 9,634 Indonesia rupiah from 9,605 rupiah.
The greenback was also higher at Tw$29.06 from Tw$29.02 and 30.68 Thai baht from 30.66 baht, while it fell to Sg$1.2194 from Sg$1.2203.
