• Jiji


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.