Source AP ©

Dollar falls in Asia as traders search for direction

The dollar fell in Asia Friday with little market-driving news ahead of the new fiscal year beginning Sunday.

The dollar was trading at 117.68 yen midafternoon, down from 117.99 yen late Thursday in New York. The euro rose to US$1.3346 from US$1.3335.

"The bias is neutral, and I'm not sure where the dollar will be heading for right now," said Shogo Nagaya, a senior dealer at Nomura Securities.

The unclear outlook for the U.S. economy has pushed the dollar lower, but other factors such as stabilizing global stocks markets and the still-wide interest rate gaps between Japan and the U.S. make traders hesitant to sell the dollar.

The market is also waiting for the release of the Bank of Japan quarterly "tankan" survey of corporate sentiments, set for release Monday.

The dollar was mostly higher against other regional currencies, climbing to 43.556 Indian rupee from 43.39, 940.8 South Korean won from 940.6, and 9,130 Indonesian rupiah from 9,126.

The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13

Putin informed about arrest of US investor Michael Calvey
Comments
The Great GOP Tax Cut Heist a Year Later
Smartphones and social networks not allowed in the Russian Army
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Trump Reportedly to Declare a National Emergency for Border Wall Funding
The Hypocrisy of the Chinese World Dog Show
UK wants Sergei Skripal dead
The Hypocrisy of the Chinese World Dog Show
The Hypocrisy of the Chinese World Dog Show
International Opposition to Attempted Trump Regime Coup in Venezuela
Homosexuality and the Decline in American Values
Russia's S-400 missiles lost in storm during transportation to China
The Hypocrisy of the Chinese World Dog Show
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
New 'bill from hell' against Russia to bring hell to USA
New 'bill from hell' against Russia to bring hell to USA
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Smartphones and social networks not allowed in the Russian Army
The Hypocrisy of the Chinese World Dog Show
The Hypocrisy of the Chinese World Dog Show