The dollar fell to around ¥105.50 yen in Tokyo trading Tuesday, reflecting lower stock prices.
At 5 p.m., the dollar stood at ¥105.52-52, down from ¥106.48-48 at the same time Monday. The euro was at $1.1893-1893, up from $1.1853-1854, and at ¥125.50-50, down from ¥126.22-23.
The dollar went sideways early in the morning after dropping below ¥106 in overseas trading hours due to the dismal reading of the New York state manufacturing index for August and the U.S. government’s fresh sanctions against China’s Huawei Technologies Co. After the Tokyo stock market’s opening, the greenback gradually lost ground against the yen as the Nikkei stock average went down.
In the afternoon, the U.S. currency fell down to around ¥105.40 before showing some resilience.
“Halts to rises in all U.S. stock price indicators except for the Nasdaq composite index have made the dollar-yen pair top-heavy,” an asset manager said.