The dollar briefly fell below ¥105 in Tokyo trading Friday, after U.S. President Donald Trump revealed his infection with the novel coronavirus.
At 5 p.m., the dollar stood at ¥105.17, down from ¥105.53 at the same time Thursday. The euro was at $1.1720, down from $1.1736, and at ¥123.29, down from ¥123.81.
Supported by the 225-issue Nikkei average’s vigorous start after the full-day stock market shutdown Thursday due to a system glitch at the Tokyo Stock Exchange, the dollar climbed to around ¥105.60.
After moving sideways until the early afternoon amid a strong wait-and-see mood before the release of the U.S. government’s employment report for September later on Friday, the greenback tumbled close to ¥104.90 in response to media reports that Trump said in his Twitter feed that he and his wife, Melania, tested positive for the virus and are self-isolating.
But the precipitous drop prompted buybacks, traders said.
An official at a bank-affiliated securities firm played down the impact of Trump’s contraction of the virus, saying, “U.S. financial policies will stay unchanged.” Both the dollar and yen attract risk-averse buying, the official added.
Meanwhile, an official at a foreign exchange margin trading service firm underscored the importance of giving heed to presidential candidates’ health conditions until the election day.