The dollar slipped below ¥109 in Tokyo trading Friday, due in part to selling by exporters.
At 5 p.m., the dollar stood at ¥108.91-91, down from ¥110.46-47 at the same time on Thursday. The euro was at $1.1019-1020, up from $1.0925-0925, and at ¥120.01-01, down from ¥120.68-69.
Weighed down by position-adjustment selling by exporters before the end of the fiscal year, the dollar fell through the ¥109 line to around ¥108.50 in morning trading.
The greenback then eased to fluctuate around ¥108.30 in the early afternoon, reflecting a drop in Dow Jones industrial average futures in off-hours trading, before rising to around 108.90 on the back of buying on dips.
An official at a foreign-exchange margin trading service firm said the dollar is expected to come under selling pressure "for a while."
The official added that the dollar may tumble below ¥106 if it falls through the ¥108 level.
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.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.