SINGAPORE: The dollar made headway against the euro in Asia on Tuesday as traders were spooked by a fuel price hike in China, chipping away at risk sentiment, analysts said.
The euro was at $1.3231 at 0600 GMT from $1.3237 in late New York trade Monday. The US dollar also strengthened against the Japanese currency, trading at 83.44 yen compared to 83.37 yen a day before.
The euro traded at 110.39 yen from 110.37 yen.
Trading was quiet, with the Japanese financial markets closed Tuesday for a public holiday, traders said.
China said Tuesday said it would hike fuel prices by the biggest margin since June 2009 after a surge in the cost of global crude, the second such move this year.
The rise added to worries about a further slowdown in the world's second-largest economy, said Justin Harper, market strategist for IG Markets Singapore.
"Their engineered slowdown might push people back into safer havens like the greenback," he told AFP.
The dollar was mostly up against Asian currencies, trading at Sg$1.2590 from Sg$1.257 on Monday, 1,125.00 South Korean won from 1,123.35 won, Tw$29.52 from Tw$29.51 and 30.76 Thai baht from 30.69 baht.
However, it fell to 42.93 Philippine pesos from 42.96 pesos and to 9,145.00 Indonesian rupiah from 9,172.25 rupiah.
