The dollar stood almost unchanged at around ¥109.40 in lackluster Tokyo trading Monday.
At 5 p.m., the dollar stood at ¥109.39-43, up marginally from ¥109.37-37 at the same time Friday. The euro was at $1.1083-1084, down from $1.1117-1117, and at ¥121.23-23, down from ¥121.59-59.
The dollar rose above ¥109.50 in the early morning on media reports that U.S. President Donald Trump held phone talks with his Chinese counterpart, Xi Jinping. But the greenback met with real demand-backed selling around midmorning and struggled for direction around ¥109.40 thereafter, traders said.
“The dollar-yen pair became nearly static as Christmas holidays begun,” a trust bank official said.
A life insurance firm official forecast quiet turn-of-the year trading, pointing out that investors have already squared their positions.