The dollar moved on a firmer tone around ¥106 in Tokyo trading Thursday.
At 5 p.m., the dollar stood at ¥105.98, up from ¥105.86 at the same time Wednesday. The euro was at $1.1765, almost unchanged from $1.1766, and at ¥124.70, up from ¥124.56.
The dollar climbed to levels around ¥106.10 in the morning amid a risk-on mood reflecting expectations for a new U.S. coronavirus relief package. But the greenback met with mounting sell orders at the levels.
In the afternoon, the dollar-yen pair turned nearly static with investors taking to the sidelines to wait for market-moving, although it continued to receive support from rises in the 225-issue Nikkei average and other Asian stock price indicators, a trust bank official said.
"Players have gradually been stepping up buying of the dollar against the yen anticipating Democratic candidate Joe Biden's victory in the U.S. presidential election," said an official at a foreign exchange margin trading service firm.
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