Business / Financial Markets | CURRENCY MARKET

Dollar closes at ¥109.20 in Tokyo trading

JIJI

The dollar rose to around ¥109.20 in Tokyo trading on Tuesday.

At 5 p.m., the dollar stood at ¥109.23-23, up from ¥108.95-96 at the same time on Monday. The euro was at $1.1028-1028, slightly down from $1.1030-1030, and at ¥120.46-46, up from ¥120.18-18.

The dollar climbed to around ¥109.10 in the morning, supported by real demand-backed buying.

After rising above ¥109.20 in the afternoon, supported by rises in the benchmark 225-issue Nikkei stock average and the U.S. long-term interest rates, the greenback moved within a narrow range in the late afternoon, due to a lack of trading incentives.

“While there are no major trading incentives, the 200-day moving average stands above ¥109, supporting (the underside of the dollar) after the (U.S. currency’s) surge last week,” an official at a foreign exchange margin trading service company said.

With U.S. President Donald Trump and U.S. Federal Reserve Vice Chair Richard Clarida both slated to deliver speeches later Tuesday, the addresses “will be the main factor moving the dollar’s exchange rates, amid an absence of important economic data releases,” an official at a trust bank said.