SINGAPORE: The US dollar traded near a five-year high against the yen in thin Asian trade Thursday as investors began the new year with renewed optimism about the US economy.

The greenback eased to 105.28 yen from 105.33 yen in New York on Tuesday, after touching 105.41 on Monday -- its strongest since October 2008. The euro edged up to $1.3764 from $1.3753 and to 144.92 yen from 144.89 yen.

Desmond Chua, market analyst at CMC Markets in Singapore, said the dollar gained support from "upbeat US economic reports", tracking a positive lead from Wall Street on Tuesday.

The US Conference Board on Tuesday released data showing consumers in the world´s top economy turned sharply confident about the economy and job market in December. Its consumer confidence index rose to 78.1 from an upwardly revised 72.0 in November.

SOURCE: AFP