Business / Financial Markets | CURRENCY MARKET

Amid lack of fresh trading incentives, dollar ends trading day at ¥107.84


The dollar firmed above ¥107.80 in Tokyo trading Friday after struggling for direction amid a dearth of fresh trading incentives.

At 5 p.m., the dollar stood at ¥107.84-84, up from ¥107.68-69 at the same time Thursday. The euro was at $1.0917-0918, down from $1.0944-0944, and at ¥117.74-74, down from ¥117.85-86.

After rising close to ¥108 in overnight trading overseas, the dollar eased in the morning and moved narrowly around ¥107.70 for a while.

In the late afternoon, the greenback firmed back into a ¥107.80 range on possible purchases by European participants in view of a rise in U.S. long-term interest rates in off-hours trading, traders said.

“The dollar-yen pair kept searching for direction,” an asset manager said.

Market attention has shifted to Japanese and foreign economic indicators to be released next week, including the U.S. Institute for Supply Management’s manufacturing index, traders said.

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