Business / Financial Markets | CURRENCY MARKET

Dollar firms to around ¥111.80 in Tokyo ahead of U.S. jobs data

JIJI

The dollar was firmer around ¥111.80 in Tokyo Friday as active trading was held in check ahead of the U.S. government’s release of July employment data.

At 5 p.m., the dollar stood at ¥111.80-81, up from ¥111.60-60 at the same time Thursday. The euro was at $1.1561-1562, down from $1.1631-1631, and at ¥129.26-27, down from ¥129.81-82.

After moving narrowly below ¥111.70, the dollar had approached ¥111.80 by midmorning.

The greenback later slipped back through ¥111.70 around noon as the Nikkei stock average gave up almost all its gains, traders said. It later firmed in late afternoon trading.

Investors were reluctant to build positions either way before the U.S. announcement later Friday of the closely watched jobs data, an asset management firm official said.

An analyst at a brokerage-affiliated think tank noted that the data would have no major impact on the dollar-yen pair because the U.S. economy’s strength has already been factored in, unless growth in nonfarm payrolls proves to be far weaker than the market consensus.

But players find it inadvisable to buy up dollars amid worries that protectionist U.S. trade policies will prevail, the analyst added.