Business / Financial Markets | CURRENCY MARKET

Dollar closes firmer around ¥109.30 in Tokyo trading


The dollar was slightly firmer around ¥109.30 in Tokyo trading Wednesday as investors sat on the fence to wait for outcomes of key events including a policy-setting meeting of the U.S. Federal Reserve that was to end later in the day.

At 5 p.m., the dollar stood at ¥109.31, up from ¥109.23 at the same time Tuesday. The euro was at $1.1433, almost unchanged from $1.1434, and at ¥124.98, up from ¥124.90.

The dollar topped ¥109.40 during the early morning. But the U.S. currency fluctuated in a range near ¥109.30 until the closing of the Tokyo Stock Exchange, in line with moves of the key Nikkei average.

The greenback was confined in a narrower band later, with investors finding it difficult to tilt their positions either way before seeing results of the two-day Federal Open Market Committee meeting as well as U.S.-China trade talks set for Wednesday and Thursday in Washington, an official of a foreign exchange margin trading service firm said.