Dollar slips in Asia as traders take profit

The dollar slips in Asia Friday as traders took profits, although they said they recent strong U.S. economic data would support the dollar.

The dollar was trading at 121.26 yen midafternoon, down from 121.39 yen late Thursday in New York.

The euro also fell as declines in global stock prices made traders cautious about keeping large holdings of euros. The common currency fell to US$1.3422 from US$1.3433, and to a two-week low against the yen of 162.20 from 162.86 yen late Thursday.

The dollar was mixed against other regional currencies, slipping to 928.4 South Korean won from 931.4 the previous day, while climbing to 40.615 Indian rupees from 40.44, and to 46.215 Philippine pesos from 46.145.