The dollar eased below ¥106.20 in lackluster Tokyo trading Friday ahead of the release of a closely-watched U.S. employment report.
At 5 p.m., the dollar stood at ¥106.15, down from ¥106.21 at the same time Thursday. The euro was at $1.1839, up from $1.1817, and at ¥125.70, up from ¥125.47.
The dollar moved in a tight range around ¥106.10. Transactions were activated by Japanese exporters and importers in the morning, but the dollar-yen pair became static in the afternoon as players retreated to the sidelines to wait for the Labor Department’s jobs report for August, due out later on Friday, traders said.
The Nikkei stock average’s sharp downturn “had little impact on the dollar-yen pair because it had been anticipated,” a currency broker said, adding that investors grew reluctant to trade actively before the three-day weekend in the United States.
An official at a foreign exchange margin trading service firm noted that the currency pair is expected to continue to struggle for direction even after the U.S. jobs report.