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The dollar fluctuated firmly above ¥106 through most of Tokyo trading Tuesday, reflecting a rise in Tokyo stocks.

At 5 p.m., the dollar stood at ¥106.12, up from ¥105.60 at the same time on Friday. The euro was at $1.1746, down from $1.1840, and at ¥124.65, down from ¥125.03.

The Tokyo market was closed Monday for a national holiday.

The dollar had climbed to around ¥106.10 in overseas trading Monday, buoyed by expectations for additional economic measures by the U.S. government to combat the economic fallout from the novel coronavirus pandemic.

Although slipping below ¥106 in early Tokyo trading, the greenback rose above ¥106.10 later in the morning, on the back of a surge in the benchmark Nikkei stock average.

Despite a dearth of fresh market-moving incentives, the U.S. currency continued to fluctuate around ¥106.10 in the afternoon.

“The dollar attracted buybacks, in response to a recovery in the U.S. employment data (for July) that was announced late last week,” said an official at a company offering foreign exchange margin trading services.

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