HONG KONG - ASIAN currencies ended the week mostly down against the US dollar despite growing concerns over the world's biggest economy and data from Washington showing rising unemployment.

JAPANESE YEN
The yen bounced back to a one-and-a-half-month high against the dollar towards the end of the week as players sold the greenback on concerns over deteriorating US employment conditions.

The Japanese currency peaked at 105.67 yen (S$1.41) to the dollar before ending daytime trading at 106.48-50 yen on Friday, up from 108.79-81 a week earlier.

It clawed its way back from the week's low of 109.09 yen on Wednesday when the dollar was bought on an overnight plunge in oil prices in New York.

Meanwhile, the dollar was pressured as weak retail results and data suggesting mounting job losses heightened fears on the US economic outlook.

Figures showing higher jobless claims in the past week and more losses in private-sector employment weighed on investor sentiment.

The fragile employment situation was further highlighted by a Labor Department report on Friday that showed US employers slashed 84,000 non-farm jobs in August and the jobless rate jumped to a five-year high of 6.1 per cent.

The report marked the eighth consecutive month of shrinking nonfarm payrolls, and was worse than expected by private economists.

Mr Yuzo Sakai, currency trading manager at Tokyo Forex and Ueda Harlow, predicted before the Labour Department report that the yen could rise again.

'Many players appear to be keen to sell high-yield currencies such as the euro against the yen amid growing speculation that a global economic slowdown may prompt central banks in many countries to cut rates,' Mr Sakai told wires.

AUSTRALIAN DOLLAR
The Australian currency was likely to have another bad week after slumping on a strengthened greenback and falling commodity prices, dealers said on Friday.

By Friday the Aussie was trading at about AUD$0.82 (S$0.954) - its weakest level in more than a year and well down from the previous week's US$0.86.

The currency has dropped some 17 per cent against the US dollar since reaching a 25-year high of US$0.98 in mid July and dealers said it could have further to go.

Head of investment strategy and chief economist at AMP Capital Investors Shane Oliver said the 'cyclical trend for the Aussie remains down on the back of falling Australian interest rates, falling commodity prices and a resurgent US dollar.' '

The next stop is likely to be around US$0.80 which should provide strong support, but if it breaks below that then a fall to US$0.75 is possible,' he said.

NEW ZEALAND DOLLAR
The kiwi ended the week at NZ$0.67(S$0.64), sharply down from US$0.71 on the previous Friday.

The currency tumbled midweek and again at the end of the week, reaching a low of NZ$0.66 on Friday before making up some ground later in the day.

Renewed volatility in world share markets on Thursday and Friday following weak US economic data and gloomy growth forecasts in Europe saw a flight from high-yielding currencies such as the New Zealand dollar.

The volatility saw investors liquidate carry trades, in which funds are borrowed in low interest rate currencies such as the yen to buy high yielding currencies such as the kiwi, said Mr Murray Hindley, ANZ Institutional Bank chief foreign exchange dealer.

Expectations the New Zealand central bank is likely to cut interest rates in its review on Thursday may also be weighing on the currency, dealers said.

CHINESE YUAN
The yuan closed at 6.8382 yuan (S$1.434) to the dollar on Friday on the exchange-traded market, compared with Thursday's close of 6.8353 yuan, and a closing price of 6.8409 yuan to the dollar last week.

On the over-the-counter market, it ended at 6.8422 yuan to the dollar against 6.8365 yuan the previous day.

The central bank had set the yuan central parity rate at 6.8436 yuan to the dollar on Friday, compared with 6.8410 yuan on Thursday.

The People's Bank of China allows a trading band of 0.5 per cent on either side of the midpoint.

HONG KONG DOLLAR
The Hong Kong dollar was at HK$7.808 (S$1.435) to the greenback, compared with HK$7.807 the week before.

INDONESIAN RUPIAH
The rupiah ended the week's trading at 9,395 rupiahs (S$1.45) to the dollar compared with 9,155 rupiahs a week earlier.

PHILIPPINE PESO
The Philippines peso fell to 46.825 pesos (S$1.44) to the dollar on Friday afternoon from 45.925 pesos the previous week.

SINGAPORE DOLLAR
The greenback was up at S$1.434 on Friday from S$1.415 the previous week.

SOUTH KOREAN WON
The won continued its fall against the dollar, ending Friday at 1,117.80 won (S$1.44) to the greenback compared with 1,089 won on August 29.

The currency has fallen 16 per cent against the US unit so far this year, losing almost three per cent in the past week alone.

But it rose on Friday for the second straight day, on suspected dollar-selling by the authorities Financial markets have been gripped by fears of a 'September crisis' as treasury bonds held by foreigners and worth 6.71 billion dollars mature next week.

The authorities say fears of mass capital flight akin to the 1997 crisis are groundless.

Dealers said next week may be a critical point in the currency market.

'Weakening sentiment stemming from capital outflow speculation is showing signs of abating. The market may stabilise somewhat next week but cautions about fluctuations also remain,' Mr Kim Doo Hyun, a dealer at Korea Exchange Bank, told Yonhap news agency.

TAIWAN
The Taiwan dollar fell 1.13 per cent by Friday to close at NT$31.875 (S$1.437) against the US dollar. The local currency was at NT$31.520 a week ago.

THAILAND
The Thai baht slid against the dollar over the past week as heightened political turmoil pushed investors to sell the local currency.

The Thai baht closed on Friday at 34.58-60 baht (S$1.441) to the dollar compared to last week's close of 34.20-22. -- AFP