Business / Financial Markets | CURRENCY MARKET

Dollar firms to around ¥109.90 in late Tokyo trading


The dollar was firmer around ¥109.90 in late Tokyo trading Tuesday, aided by higher long-term U.S. interest rates.

At 5 p.m., the dollar stood at ¥109.88-89, up from ¥109.50-51 at the same time Monday. The euro was at $1.1922-1923, down from $1.1978-1979, and at ¥131.01-02, down from ¥131.15-20.

The dollar moved around ¥109.70 in early trading, reflecting a rise in long-term U.S. Treasury bond yields and firmer U.S. stock prices, traders said.

After posting more gains, the greenback saw its topside capped by selling sparked by a fallback of the Nikkei 225 average later in the morning, they said.

The U.S. currency regained steam in the afternoon thanks to buybacks inspired by a renewed rise in the Treasury yields, they said.

A foreign exchange brokerage official said the dollar is expected to retake ¥110 if U.S. retail sales data for April, due out later Tuesday, turn out to be strong.