The US dollar was virtually flat against the other main currencies in afternoon trading here, at the end of an Asian session during which flows were generally light, dealers said. At 3.30 pm here (0730 GMT), the dollar was at 118.29 yen, little changed from 118.30 yen in Sydney nearly 4-1/2 hours earlier. The euro was at 1.2788 usd, the same as its level in Sydney. Said one dealer: "For some, the weekend has begun." In a note to clients, NAB Capital said: "We don't see a sharp fall in the US dollar while the Federal Reserve is downplaying downside risks to growth and highlighting still elevated inflation." Some analysts said they noted a potential risk factor in this weekend's meeting in Australia of the G20's central bankers and finance ministers, at which some officials, including US Deputy Treasury Secretary Robert Kimmitt, have said they will bring up issues such as yuan and global inflation. Later today, the US housing starts data for last month are due to be released. The market expects housing starts to have continued their downward trend, dealers said, with projections centered on an annual rate of 1.675 mln, after a surprise increase to 1.772 mln in September.