The dollar slightly weakened to levels around ¥106.10 in lackluster Tokyo trading Thursday.
At 5 p.m., the dollar stood at ¥106.10, down from ¥106.29-30 at the same time Wednesday. The euro was at $1.1216, up from $1.1189, and at ¥119.02, up from ¥118.94.
The dollar firmed above ¥106.20 in midmorning, after the People’s Bank of China set the daily reference rate for the yuan against the dollar “at a level stronger than expected,” a currency broker said.
In the afternoon, the greenback struggled for direction, moving mostly in a range between ¥106.00 and ¥106.20.
The dollar’s topside was capped by concerns over the U.S.-China trade conflict while its downside was supported by buybacks believed to be made by European players in view of the U.S. currency’s recent resilience, traders said.
IN FIVE EASY PIECES WITH TAKE 5