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.
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.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.