TOKYO: The euro stayed under pressure against other currencies in Asia on Thursday as investors remained wary of euro zone debt problems, dealers said.
A stocks rally led by positive US data on Wednesday took the sting out of recent concern over sovereign debts in Ireland and other European nations as well as tensions on the Korean peninsula.
However, the euro fell back to $1.3318 in Tokyo midday trade from $1.3335 in New York late Wednesday and to 111.13 yen from 111.32-42 yen. The dollar slipped to 83.43 yen from 83.53 yen.
The Nikkei gained 0.36 percent by lunch break, much smaller than a 1.37 percent rise in the blue-chip Dow Jones Industrial Average and a 1.93 percent rally in the technology-heavy Nasdaq index. “Investors are still concerned about Ireland’s fiscal state, despite the bailout, while threat of similar problems in Portugal and Spain means the euro will likely stay under pressure in the near term,” Sakai said.
