The dollar crept up to exceed ¥109.80 in Tokyo trading Monday, attracting real demand-backed buying.
At 5 p.m., the dollar stood at ¥109.86-86, up from ¥109.78-78 at the same time Friday. The euro was at $1.0840-0841, almost unchanged from $1.0841-0841, and at ¥119.10-10, up from ¥119.01-02.
The dollar fell close to ¥109.70 in the morning on the heels of a tumble on the Tokyo Stock Exchange that was triggered in part by the release of dismal gross domestic product figures for the October-December quarter.
But the greenback regained the lost ground on purchases by Japanese importers for settlement purposes. In the afternoon, it turned static without major trading cues during the three-day weekend in the United States through Monday, traders said.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.