Business / Financial Markets | CURRENCY MARKET

Dollar basically flat around ¥107.80 in Tokyo trading ahead of Independence Day holiday


The dollar moved sideways around ¥107.80 in Tokyo trading Thursday as players refrained from tilting positions either way on the eve of the Fourth of July holiday in the United States.

At 5 p.m., the dollar stood at ¥107.78-83, slightly firmer than ¥107.74-78 at the same time Wednesday. The euro was at $1.1283-1283, up from $1.1277-1277, and at ¥121.64-65, up from ¥121.50-51.

The dollar briefly fell below ¥107.70 around midmorning on selling prompted by a drop in U.S. long-term interest rates. But there was no follow-through selling, traders said.

The greenback was stuck in a tight range in the afternoon, as “active buying was also absent in thin trading ahead of Independence Day,” an official at a major bank said.

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