The dollar moved up slightly to levels around ¥106 in Tokyo trading Tuesday, on the back of higher stock prices.
At 5 p.m., the dollar stood at ¥105.91-93, against ¥105.84-94 at the same time Monday. The euro was at $1.1785-1786, up from $1.1761-1761, and at ¥124.83-83, up from ¥124.55-55.
The dollar rose over ¥106.10 by midmorning, as investors stepped up buying in view of the 225-issue Nikkei average’s continued rally. The greenback mostly traded above ¥106 in the afternoon before meeting with position-squaring selling induced by the euro’s appreciation.
“The dollar seems to be gradually losing ground against the yen while searching for a comfortable range,” a life insurance firm official said.