The dollar retook ¥102 in Tokyo trading Friday, mainly jacked up by a rise in stock markets in and outside Japan.
At 5 p.m., the dollar was quoted at ¥102.11-12, up from ¥101.48-50 at the same time Thursday. The euro stood at $1.3586-3587, up from $1.3524-3525, and at ¥138.73-78, up from ¥137.21-29.
The dollar moved around ¥102 in Tokyo throughout Friday after rising in overseas trading Thursday following a host of economic events.
The European Central Bank on Thursday kept its benchmark interest rate unchanged at a record low of 0.25 percent. ECB President Marion Draghi did not indicate readiness to take monetary policy easing measures anytime soon.
This led market players to buy euros against many other major currencies, including the yen. In the dollar-yen sector, the development worked in favor of the greenback, traders said.
In addition, weekly U.S. jobless claims data, released Thursday, came out stronger than expected, sparking a rise in U.S. stock prices. Reflecting the strength on Wall Street, equity prices in Tokyo also rallied.
In Tokyo, the dollar met with a wave of selling at levels above ¥102. But it “added gains in the afternoon because Tokyo stock prices rose further toward the close,” a major Japanese bank official said.
But the official also noted a strong wait-and-see mood ahead of the U.S. Labor Department’s announcement of the closely followed jobs data for January later Friday.
Market consensus calls for an increase of nonfarm jobs, but many players are braced for results weaker than the forecast, traders said.