JAPANESE YEN: The yen plunged against the dollar in Tokyo as the US unit advanced on growing optimism over the US economy, dealers said.
"What really supported the dollar is rising optimism over the US economy," said Shigetake Nakayama, a dealer at UFJ Holdings.
The Japanese unit stood at 111.90 yen to the dollar in Tokyo afternoon trade, down from 109.74 yen a week ago.
"This is a market that is moving because of interest rate differentials," said Kikuko Takeda, currency analyst at Bank of Tokyo-Mitsubishi.
The US Federal Reserve raised its key interest rate to 1.25 percent in June, up a quarter percentage point from 46-year lows to head off inflation. Expectations are for a further rate hike in early August.
Takeda also noted that the prospect of Japan emerging from deflation, which could lead in turn to a tightening of monetary policy and higher interest rates, was still "a long way off".
Disappointing data recently has suggested Japan may not escape from deflation any time soon.
Dealers also said the yen has been hurt by rising oil prices and disappointing retail sales figures, which declined 2.9 percent in June from a year earlier.
Additionally, the government said Thursday that Japan's industrial output in June fell 1.3 percent from May, the first drop in four months.
AUSTRALIAN DOLLAR: The Australian dollar is tipped to struggle against the greenback next week as hopes diminish of a surprise hike in interest rates, dealers said.
The currency ended the week at 69.57 US cents, down 1.7 US cents on last week's 71.27 US cents.
The Reserve Bank of Australia (RBA) last hiked rates in December and most economists expect it to maintain its hands-off policy at its monthly monetary policy meeting next Tuesday, despite data showing rising building approvals and private sector credit.
The impression was reinforced Friday when Prime Minister John Howard, who takes the country to the polls later this year, said there was no case for an interest rate hike.
Howard said Australia was still enjoying low inflation and strong employment conditions while wage growth had not blown out unsustainably and the housing market had eased.
NEW ZEALAND DOLLAR: New Zealand's dollar closed Friday worth 63.29 US cents, down from the 64.06 cents close of a week earlier.
On Thursday the central Reserve Bank lifted the official interest rate 0.25 percent to six percent had made the kiwi attractive to off-shore dealers.
Westpac chief currency dealer Basil Payn said the kiwi ended the week consolidating on reasonable volume.
SINGAPORE DOLLAR: The US dollar was at 1.7249 Singapore dollars on Friday from 1.7187 the previous week.
HONG KONG: Hong Kong's US-pegged dollar was at 7.775 on Friday, unchanged from the previous week.
INDONESIAN RUPIAH: The Indonesian rupiah ended the week lower at 9,148/9,158 to the dollar compared with 9,070/9,080 the previous week.
PHILIPPINE PESO: The Philippines peso traded higher at 55.950 to the dollar late Friday, compared to 56.055 on July 23.
SOUTH KOREAN WON: The won closed at 1,170.0 won per dollar Friday, compared with 1,166.20 won a week earlier, as overseas dealers bought the greenback amid uncertainties over oil prices.
Dealers said the dollar-won exchange rate would remain high in coming weeks because of higher oil prices and weak South Korean economic data.
TAIWAN DOLLAR: The Taiwan dollar closed at 34.136 against the greenback Friday, down from 34.065 a week ago.
THAI BAHT: The Thai baht continued to fall against the dollar over the past week due to various negative economic factors including record high oil prices and a slump in the local stock market, dealers said.
The unit closed Friday trading at 41.34-37 baht to the dollar compared to the previous week's close of 41.05-07.