Business / Financial Markets | CURRENCY MARKET

Dollar sheds gains to move around ¥108.60 in Tokyo

JIJI

The dollar was trading at around ¥108.60 in Tokyo Friday after gradually paring its gains.

At 5 p.m., the dollar stood at ¥108.60-60, up from ¥108.58-58 at the same time Thursday. The euro was at $1.1064-1064, down from $1.1073-1073, and at ¥120.16-17, down from ¥120.23-23.

In midmorning trading, the dollar approached ¥108.70 after getting a lift from purchases by Japanese importers, traders said, adding that an upturn in the Nikkei stock average also supported the greenback.

But the dollar’s failure to break that level spurred sales.

“Investors cannot tilt their positions either way while positive and negative news about U.S.-China trade keeps hitting the dollar-yen pair,” said an official at a foreign-exchange margin trading firm.