The dollar shot above ¥103 in Tokyo trading Wednesday on purchases driven by a stronger-than-expected U.S. economic indicator released overnight, as well as speculative buying.
At 5 p.m., the dollar stood at ¥103.29-29, up from ¥102.59-60 at the same time Tuesday. The euro was at $1.3293-3293, down from $1.3350-3351, and at ¥137.31-32, up from ¥136.96-98.
In early Tokyo trading, the dollar was moving around ¥102.90, after topping the resistance level of ¥102.70 in New York hours after the U.S. Commerce Department's announcement that housing starts jumped 15.7 percent month on month in July.