Business / Financial Markets | CURRENCY MARKET

Dollar weaker below ¥112.80 in late Tokyo trading

JIJI

The dollar was weaker below ¥112.80 in late Tokyo trading on Friday, amid a wait-and-see mood prior to the announcement of U.S. jobs data for November later in the day.

At 5 p.m., the dollar stood at ¥112.78, down from ¥113.10 at the same time on Thursday. The euro was at $1.1372, up from $1.1322, and at ¥128.25, up from ¥128.06.

In early trading, the dollar moved in a narrow range around ¥112.70 while concerns remained over a deterioration in U.S.-China ties following the recent arrest of an executive of Chinese telecommunications equipment giant Huawei Technologies Co. by Canadian authorities, apparently at the request of the United States, on suspicion of violating U.S. sanctions on Iran.

After moving aimlessly later in the morning, the greenback firmed to around ¥112.90 in afternoon trading, backed by a solid performance of the benchmark 225-issue Nikkei average on the Tokyo Stock Exchange.

A currency broker said a risk-averse mood prompted by worries about U.S.-China tensions “came to a pause” thanks to the firmness of Japanese stock prices.

But the U.S. currency fell back below ¥112.80 in late trading. Investors increasingly retreated to the sidelines, waiting to confirm the outcome of the jobs data from the U.S. Labor Department, an official of a foreign exchange margin trading service firm said.