Dollar declines in Asia on pessimism over US outlook (AP) (27-03-2008)

TOKYO (AP) -- The dollar again fell below 100 yen on Thursday in Asia as overnight U.S. data boosted the gloomy outlook for the American economy.

The dollar was trading at 98.98 yen mid-afternoon in Tokyo, down from 100 yen late Wednesday in New York. The euro stood at $1.5807, down from $1.5815.

The market is now waiting for U.S. weekly jobless claims data and final gross domestic product figures for the fourth quarter -- both set for release later in the day.

If the results are worse than expected, even slightly, another round of dollar-selling is like to start, said Hiroshi Yoshida, a senior dealer at Shinkin Central Bank. "The market is hungry for dollar-selling factors," he said.

The dollar was mostly higher against other regional currencies, climbing to 9,212 Indonesian rupiah from 9,180 in the previous session, and to 990.8 South Korean won from 986.7.

 Source: AP