/ |

Dollar firms to around ¥110.40-50 in Tokyo ahead of U.S. pricing data

JIJI

The dollar was solid around ¥110.40-50 in Tokyo trading Thursday, reflecting strong U.S. producer price data.

At 5 p.m., the dollar stood at ¥110.40-41, up from ¥109.94-94 at the same time Wednesday. The euro was at $1.1904-1905, down from $1.1984-1984, and at ¥131.44-44, down from ¥131.76-76.

The dollar climbed above ¥110.70 briefly on purchases from Japanese importers and a brief rebound in Japanese stocks.

The U.S. currency then fell back moderately. Its topside was weighed down by a news report that North Korea is preparing to fire another missile, an official at a foreign-exchange brokerage house said.

But the dollar was underpinned by strong U.S. producer price data, the official said.

A wait-and-see mood was dominant in late trading as market participants awaited the release of U.S. consumer price data set for later on Thursday, traders said.

“The dollar may test its upside against the yen if the price data turn out to be strong,” an official at a major Japanese bank said.