Financial Markets

Dollar eases to ¥107.30 in Tokyo trading

JIJI

The dollar fell slightly to around ¥107.30 in late Tokyo trading Tuesday, amid concerns over geopolitical risks on the Korean Peninsula.

At 5 p.m., the dollar stood at ¥107.32, marginally down from ¥107.35 at the same time on Monday. The euro was at $1.1322, up from $1.1244, and at ¥121.51, up from ¥120.70.

The dollar fluctuated around ¥107.30 in the early morning of Tokyo trading, reflecting buybacks after the U.S. Federal Reserve’s announcement that it will buy individual corporate bonds as a coronavirus response measure.

Following the closing of the two-day monetary policy meeting of the Bank of Japan’s Policy Board, the greenback surged to around ¥107.60 later in the morning.

“Speculators apparently moved to cut losses,” an official at a Japanese bank said.

In late trading, the U.S. currency fell to around ¥107.30 due to buying of the yen as a safe haven after an explosion was reported by the media near the military demarcation line separating North Korea and South Korea.

The dollar-yen rate was also weighed down by the South Korean government’s announcement that North Korea has blown up a joint liaison office in Kaesong.

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