Dollar mixed in quiet Asian trade
The dollar edged down against the yen in quiet trade Thursday as investors turned attention to the pace of further Federal Reserve interest rate increases and the health of the US economy.
Trading volumes were thin ahead of the New Year holiday and Japanese financial markets were closed for a holiday.
Analysts said that traders have already priced in the decision on December 16 by the US central bank to increase interest rates for the first time in nearly a decade.
The Fed raised its benchmark federal funds rate, locked near zero since the 2008 financial crisis, by 25 basis points to 0.25-0.50 percent, kicking off what is expected to be a series of increases policymakers said would be gradual and follow the pace of the economy.
Higher borrowing rates usually boost the dollar as it encourages investors to shift attention to the United States searching for better and safer returns.
“I see the market’s focus turning to the pace of the rate hikes dictating dollar,” said Bernard Aw, market strategist at IG Markets in Singapore.
“For now, there is a difference of two hikes between what the Fed projects, and what the market is pricing in. At some point next year, this gap will narrow and how it will converge should influence the dollar,” he told AFP.
“For now, I think the dollar is finding it tough to go higher, which suggests that much of the December rate hike has been priced in.”
At around 0430 GMT, the dollar was trading at 120.38 Japanese yen down from 120.52 in late New York trade on Wednesday.
The euro was at $1.0931 from $1.0932 and 131.58 yen from 131.75 yen.
The greenback was down against the Australian, New Zealand, Singapore and Taiwan dollars, and eased versus the Philippine pesos.
But it edged up against the South Korean won, Indonesian rupiah, Indian rupee, and Malaysian ringgit.
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1 Comments
Sterling Homes ltd selling Plots and Acres of Land
Hebron garden estate is owned by Sterling homes Ltd and it’s
completely free from “omo-onile” and government acquisition. Land
mass: more than 10acres. Land type: dry, sandy and leveled. Location: Lekki,
about 6minutes drive to Eleko beach and 15minutes drive to Lekki free trade
zone. There are several notable Landmarks before the estate. These include, The
Lagos Business School, Crown Estate, Farapark, Sapphire Garden, Green Springs
School and Shares immediate environment with Mayfair Gardens and Beechwood
Estate & lots more. PAYMENT PLAN FOR A PLOT: *Smart plan: Outright payment
#2.8m. *Easy Plan: #3m. Spread #210,000 for 10months after the initial deposit
of #900,000. Contact Yemi Amodu at Sterling Homes LTD for more information:
Plot 2, River Valley Estate, Ojodu Berger. Mobile 08136119495, 07084546154,,,,
Havilah park and garden is an estate located about 6mins
drive off the Lagos-Ibadan expressway. It’s about 25mins drive to Berger
bus-stop. The estate is fenced with a gate house, and our ultra- modern borehole
is already in place. The price of a plot is #630,000 outright, and we still
have other installment plan also. For more information and site inspection call
Yemi Amodu at Sterling Homes LTD: Plot 2, River Valley Estate, Ojodu Berger,
Lagos. Mobile: 07084546154, 08136119495….
Moriah park is situated at Agbowa, Ikorodu. The estate is
facing the Lagos state housing scheme popularly called Fashola estate. It’s
fenced round with a gate house and an industrial borehole has been constructed
at the site as well. It’s selling for a promotional offer of #630,000 outright,
though we still have other installment payment option. For more information and
site inspection, call Yemi at Sterling Homes LTD: Plot 2, River Valley Estate,
Ojodu Berger, Lagos. Mobile: 07084546154, 08136119495
Gibeon park is located at Gberigbe
area of Ikorodu Lagos. The estate is situated off Ijede road Gberibe close to Lagos
state model college Igbokuta, The estate is fenced and gated in a serene
environment. Its neighborhood are Egbin Power Plant, The Metro-Ferry Jetty, Wine
Factory, barachel Park and Garden and numerous estate. For Full Plot (648sqm),
PRICE: #600,000 outright. Flex
plan = #150,000 initial deposit then spread #100,000 for 6months at #750,000
total Easy
plan = #50 monthly for 17months at #850,000 total or get an instant allocation
at #750,000 (50% of total invoice, balance spread for 3months) For Half Plot (324sqm): #350,000
outright payment
TITLE: Registered Survey and Approved Layout plan. Contact
Adeyemi Amodu at Sterling Homes Ltd for more information and site inspections
while it’s still available. Office
address: STERLING HOMES LIMITED; Plot 2, River Valley Estate, Ojodu Berger,
Lagos. Mobile: 07084546154, 08136119495
We will review and take appropriate action.