The dollar was slightly firmer around ¥105.70 in Tokyo trading late Tuesday, reflecting waning concerns over U.S. President Donald Trump’s health after he was found to have been infected with the novel coronavirus.
At 5 p.m., the dollar stood at ¥105.65, up marginally from ¥105.60 at the same time Monday. The euro was at $1.1777, up from $1.1733, and at ¥124.41, up from ¥123.89.
The dollar climbed to around ¥105.80 in the early morning of Tokyo trading, after the market’s fears that the U.S. presidential election may be thrown into turmoil receded following Trump’s release from hospital.
The dollar was also supported by buying by Japanese importers.
The U.S. currency’s upside, however, was limited, with a currency broker saying that market participants “felt that it was too early to be optimistic about Trump’s health.”
The greenback then moved mainly around ¥105.60 for the rest of the day’s trading amid a strong wait-and-see mood before a speech by U.S. Federal Reserve Chairman Jerome Powell later Monday.
Market players “was waiting to see (what Powell has to say on) the future conduct of the Fed’s monetary policy,” an official at a Japanese bank said.
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