The dollar was stuck in a narrow range around ¥107.80 in lackluster Tokyo trading Tuesday.
At 5 p.m., the dollar stood at ¥107.80, up from ¥107.75 at the same time Monday. The euro was at $1.0935, up from $1.0875, and at ¥117.89, up from ¥117.18.
With few foreign players active due to U.S. and British holidays, the dollar moved tightly around ¥107.70 in the early morning.
After the Tokyo stock market’s opening, the greenback firmed against the yen on the Nikkei average’s rise. It was also lifted by real demand and Bank of Japan Gov. Haruhiko Kuroda’s pledge to swiftly carry out fresh easing measures if necessary. But the dollar quickly met with renewed selling.
“Kuroda said nothing new, but artificial intelligence-based trading systems reacted,” an official at a life insurance firm said.
“Although the dollar-yen pair is struggling for direction, a risk-on mood prevails,” a securities firm official said.
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