The dollar went sideways at around ¥109.40 in the absence of major players Tuesday.
At 5 p.m., the dollar stood at ¥109.39-39, nearly unchanged from ¥109.39-43 at the same time Monday. The euro was at $1.1085-1085, up slightly from $1.$1083-1084, and at ¥121.23-24, almost flat from ¥121.23-23.
With most of foreign players taking Christmas holidays, the dollar was stuck in an extremely narrow range around ¥109.40.
“Only seen today was some real demand-backed transactions,” an official at a Japanese bank said.
Meanwhile, an official at a foreign exchange margin trading service firm warned of the possibility of the market suddenly going wild with few participants.