The dollar drifted in a tight range around ¥108.20 in Tokyo trading Thursday, amid a lack of major incentives.
At 5 p.m., the dollar stood at ¥108.23-27, almost unchanged from ¥108.24-25 at the same time Wednesday. The euro was at $1.1231-1235, down from $1.1266-1267, and at ¥121.57, down from ¥121.96-97.
The dollar fell below ¥108.20 in early trading, following media reports that U.S. and Mexican government officials failed to reach an agreement in their tariff negotiations, traders said.
After rising back above ¥108.30, the greenback eased in line with falls in U.S. long-term interest rates in off-hours trading and the Nikkei stock average in late afternoon trading, a currency broker said.
“If the U.S.-Mexico tariff talks make progress, the dollar may strengthen against the yen,” said a securities firm official.
In addition to the talks, the U.S. government’s jobs data for May, due out Friday, has been attracting market attention, traders said.