Business / Financial Markets | CURRENCY MARKET

Greenback climbs to around ¥109.50 in light Tokyo trading


The dollar rose to around ¥109.50 in quiet Tokyo trading Thursday.

At 5 p.m., the dollar stood at ¥109.55-55, up from ¥109.31-40 at the same time on Wednesday. The euro was at $1.1091-1091, up slightly from $1.1082-1086, and at ¥121.-50, up from ¥121.21-22.

The dollar moved above ¥109.30 in early trading.

After rising to around ¥109.50 later in the morning, supported by real demand-backed buying, the dollar fluctuated around ¥109.50-60 for the entire day.

“Import-oriented companies actively bought the dollar before the year-end,” a currency dealer said.

As there were no other major trading incentives, an official at a Japanese bank said that the dollar-yen rate is expected to move little until U.S. trading hours later on Thursday.

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