The dollar traded mostly around ¥107.10 in Tokyo Friday before meeting with some selling in the late afternoon.
At 5 p.m., the dollar stood at ¥106.98-98, down from ¥107.10-11 at the same time Thursday. The euro was at $1.1224-1224, down from $1.1234-1234, and at ¥120.06-11, down from ¥120.32-33.
The dollar moved in a tight range around ¥107.10, after firming slightly above ¥107.20 in midmorning trading thanks to purchases by Japanese importers for settlement purposes.
The greenback slipped through ¥107 in the late afternoon, as it came under selling pressure vis-a-vis the yen after losing ground against the euro, traders said.
“The dollar-yen pair has been merely responding to month-end minor changes in the supply-demand balance,” an official at a bank-affiliated securities firm said.
“Despite a number of concerns, including over U.S.-China tensions, ample emergency liquidity supply by central banks in the coronavirus crisis prevents investors from fully becoming risk-averse,” a Japanese bank official said.
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