The dollar remains sensitive to ups and downs in New York share prices.
Caught in the crosscurrents of optimism about Washington's reflationary policy measures and worries about the fallout from the U.S.-led military action in Afghanistan and anthrax attacks in the United States, the dollar-yen rate appears likely to remain locked within a narrow range somewhere between 120 and 123.
The Bank of Japan appears poised to step in yet again at any time, if the need arises to keep the dollar from falling below 120.