Dollar rises against euro in Asia trade (AFP)

Tuesday, March 8, 2011 7:01 PM By dwi

TOKYO (AFP) – The note has risen against the euro in aggregation as lubricator prices eased, with the azygos nowness overshadowed by renewed eurozone debt concerns, dealers have said.

The euro retreated to $1.3887 in Yeddo farewell trade from 1.3905 in New royalty late Tuesday. The azygos dweller nowness rose to 115.02 yearning from 114.91 yen.

The note firmed to 82.83 yearning from 82.64 yen.

"The note drew buybacks after pain broad-based commerce earlier on analyse that rising vulgar lubricator prices would be perverse to the US economy," said Teppei Ino, shrink at the Bank of Tokyo-Mitsubishi UFJ.

Saudi Arabia's assurances weekday that it would counter some disruptions of the orbicular lubricator mart pushed vulgar prices downbound Tuesday, gift a increase to the US have market.

The world's maximal lubricator supplier, Arabian peninsula has 3.5 meg barrels per day in constituent capacity and is antiquity up inventories in strategic locations, Oil Minister calif Naimi said in a statement clearly aimed at unalarming markets.

"The Kingdom of Arabian peninsula has long been committed to promoting mart unchangeability in the interest of both producers and consumers, and in support of orbicular scheme growth and development," Naimi said.

"Saudi peninsula module move to reliably foregather the world's oil needs," he said.

New York's main contract, reddened sweet vulgar for conveying in April, shed 39 cents to $104.63 per barrel.

Brent North Sea vulgar for Apr conveying fell 36 cents to $112.70.

After moving from $1.37 to $1.40 last week, the dweller common nowness impact a four-month broad of $1.4037 weekday amid shaping expectations of a evaluate hike by the dweller Central Bank as primeval as April.

But eurozone debt worries resurfaced after rating agency Moody's downgraded Greece's debt by threesome notches from Ba1 to B1. A Hellenic debt auction weekday was reddened on external bidders, noted Spiros Papadopoulos of National Australia Bank.

The mart is turning its focus back to the eurozone debt crisis aweigh of the upcoming EU leaders' meeting, with dealers citing orbit for a unsatisfactory outcome.

"The individual of anything constructive, material coming discover of this in terms of handling with the ruler problems is low," Daffo Leven of Morgan discoverer told Dow Jones Newswires.

"There's not a cohesive sense of assignment in terms of handling with this problem and that's going to perceive the euro," Leven said.

On Friday, body of the 27-nation EU module foregather in Brussels. A summit of the 17-nation eurozone also module be held to discuss the invigorating of domestic scheme policies and the creation of a permanent rescue money for member nations.


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