NEW YORK: The yen was slightly stronger in early Asia on Friday ahead of consumer confidence data later in the day and with markets increasingly focused on concerns of a default by Greece on its sovereign debt.
USD/JPY changed hands at 118.98, down 0.05%, while EUR/USD traded at 1.0772, up 0.10%. AUD/USD traded at 0.7791, down 0.15%.
At 1400 Tokyo time (0500 GMT) comes Japan’s consumer confidence data for March. In February the consumer confidence index marked the third straight rise, reaching the highest level since last August.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased 0.03% to 97.85 in Asia.
Concerns that Greece could default on its sovereign debt and leave the euro zone are high with substantial Greek payments looming over the next three months, S&P lowered the nation’s long and short-term credit ratings on its sovereign debt to CCC+ from B- ahead of a critical meeting of euro group finance ministers next Friday in Latvia.
