Euro falls against dollar, yen in Asian trade

Agence France-Presse . Singapore

The euro fell against the greenback and yen in Asian trade Tuesday as investors fretted about the eurozone’s debt woes, analysts said.
The euro sank to $1.3564 at 0630 GMT from $1.3622 late Monday. It traded at 113.31 yen compared with 114.82 yen on Monday.
The greenback bought 83.54 yen compared with 83.29 yen earlier.
Fears of debt contagion within Europe were pulling the euro currency down, said David Forrester, currency strategist at Barclays Capital in Singapore.
‘It is currently about the euro area sovereign debt concerns,’ he told AFP, adding that Ireland was not the only country within the eurozone that was saddled with debt.
‘You’ve got Portuguese and Spanish credit default swaps heading higher so the risk of contagion is there,’ Forrester said.
In Asia the dollar made headway against the Thai baht, trading at 30.11 baht from 29.92. It also gained against the South Korean won, with one US dollar buying 1,129.80 won from Monday’s 1,125.30.
It bought 1.3069 Singapore dollars from 1.2939, 30.43 Taiwan dollars from 30.28, and 43.98 Philippine pesos from 43.85 but slipped to 8,925.00 Indonesian rupiah from 8,927.50.