The dollar rose to around ¥105.60 in Tokyo trading Monday, as a risk-off mood receded following media reports about an improvement in U.S. President Donald Trump’s health conditions.
At 5 p.m., the dollar stood at ¥105.60, up from ¥105.17 at the same time Friday. The euro was at $1.1733, up from $1.1720, and at ¥123.89, up from ¥123.29.
The dollar climbed above ¥105.50 yen in the morning, in response to news reports that Trump’s medical team suggested the possibility of the president being released from a military hospital in Washington as early as Monday after COVID-19 treatment.
Demand from Japanese importers and rises in the 225-issue Nikkei average and U.S. stock index futures also helped push up the greenback against the yen.
After going sideways until late afternoon, the dollar topped ¥105.60 on buying stemming from European stocks’ advance.
The dollar-yen pair “has regained calm” as far as transactions over Trump’s health are concerned, an official at a foreign exchange margin trading service firm said.
A Japanese bank official said investors “will grow risk-averse again” if Trump fails to show smooth recovery from the infectious disease.
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