Business / Financial Markets | CURRENCY MARKET

Dollar falls to around ¥112.30 in late Tokyo trading


The dollar was lower around ¥112.30 in Tokyo trading late Tuesday, weighed down by falls in stock prices in Japan and overseas.

At 5 p.m., the dollar stood at ¥112.32-32, down from ¥112.75-75 at the same time Monday. The euro was at $1.1467-1468, down from $1.1531-1532, and at ¥128.80-81, down from ¥130.02-03.

Amid a lack of fresh trading incentives, the dollar traded around ¥112.80 in early trading.

The U.S. currency moved on a weak note later in the morning and dropped to levels around ¥112.50 around noon, as safe-haven yen buying against the dollar gained strength amid a growing risk-averse mood generated by sharply lower Tokyo stock prices and falls in Chinese stocks.

The dollar dropped to around ¥112.30 in late trading following a weak start of European equities, traders said.

Later Tuesday, Turkish President Recep Tayyip Erdogan is slated to release a statement on the alleged murder of a Saudi journalist in Istanbul.

“Investors refrained from active trading to weigh up the impact of the statement on the currency market,” an official of a bank-affiliated securities firm said.