The dollar was almost flat around ¥111.90 in Tokyo trading Tuesday as investors retreated to the sidelines to see the outcome of trade talks between Japan and the United States.
At 5 p.m., the dollar stood at ¥111.89-89, slightly down from ¥111.91-91 at the same time Monday. The euro was at $1.1310-1310, down from $1.1316-1316, and at ¥126.55-55, down from ¥126.63-68.
The dollar topped ¥112 in the wake of the Nikkei 225 stock average’s upturn after a weak start. But a wait-and-see mood spread later, forcing the dollar to move in a tight range between ¥111.90 and ¥112. In late hours, the greenback eased below ¥111.90 on selling induced by a drop in U.S. long-term interest rates in off-hours trading, traders said.
“Anxious about the trade talks, players held active transactions in check,” an asset management firm official said.
After the first day of talks with his U.S. counterpart on Monday, economic revitalization minister Toshimitsu Motegi told a news conference that he will brief reporters on results of discussions on specific matters, such as vehicle trade and currency, on Tuesday.