The dollar firmed to around ¥105.90 in Tokyo trading late Wednesday, after moving within a narrow range for the majority of the day’s trading, thanks to a rise in major European stock markets.
At 5 p.m., the dollar stood at ¥105.86, up from ¥105.65 at the same time Tuesday. The euro was at $1.1766, down from $1.1777, and at ¥124.56, up from ¥124.41.
The dollar mostly fluctuated around ¥105.60 throughout the morning.
In the afternoon, the dollar firmed to around ¥105.70, amid a heightening in a risk-on market mood, which came after the benchmark 225-issue Nikkei average showed resilience from its morning’s tumble and a rise in U.S. stock index futures.
Buying instigated by European stock markets’ advances helped the dollar climb to around ¥105.90 in late trading, traders said.
An official at a Japanese bank noted that market participants were “paying close attention to” a debate later on Wednesday between U.S. Vice President Mike Pence and Democratic vice presidential candidate Kamala Harris, as U.S. President Donald Trump’s novel coronavirus infection left investors increasingly mindful of the possibility that the vice president may take on the role of president if the leader has health concerns.