Business / Financial Markets | CURRENCY MARKET

Dollar slightly firmer above ¥113.40 in Tokyo


The dollar was slightly firmer above ¥113.40 in late Tokyo trading Friday, supported by position-adjustment buying.

At 5 p.m., the dollar stood at ¥113.46, up from ¥113.24 at the same time Thursday. The euro was at $1.1379, down from $1.1383, and at ¥129.12, up from ¥128.91.

The greenback moved narrowly around ¥113.40 throughout Friday, with its downside supported by purchases from domestic importers and position-adjustment buying, traders said.

Active trading was held in check ahead of the closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend, market sources said.

An official of a major securities firm predicted that the U.S.-China trade fiction “won’t improve drastically” after the meeting.

Currency market players “are expected to buy dollars” next week after the Trump-Xi meeting and congressional testimony by U.S. Federal Reserve Chairman Jerome Powell on Wednesday, an official of a bank-linked securities firm said.