Dollar, euro rangebound in Asia

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TOKYO: The dollar and the euro stayed within a tight range in subdued holiday trade Monday as players searched for fresh incentives.

The dollar stood at 77.98 yen, little changed from 78.06 yen in New York Friday.

The euro was at $1.3054 and 101.81 yen, mixed from $1.3040 and 101.86 yen in New York Friday.

“The market here will barely move due to the absence of fresh leads,” a senior dealer at a Japanese bank told Dow Jones Newswires.

Many operators left the market, with major markets including London and New York closed for Christmas holidays.

The forex market barely reacted to the approval Friday by the US Congress of an extension of a popular payroll-tax cut, the Tokyo dealer said.

Any gain by the euro will be weighed by lingering worries over the eurozone debt crisis, he said.

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