The dollar was a tad firmer around ¥104.70 in Tokyo trading Friday, maintaining part of the gains in early trading.
At 5 p.m., the dollar stood at ¥104.68, up from ¥104.54 at the same time Thursday. The euro was at $1.1828, down from $1.1861, and at ¥123.82, down from ¥124.00.
The dollar climbed to around ¥104.90 in early trading, riding on high hopes for progress in negotiations over a U.S. coronavirus relief package as well as an easing of the euro versus the dollar, traders said.
The greenback cut gains against the Japanese currency around midmorning trading, hurt by real demand-backed selling.
The U.S. currency went sideways for the rest of the day as market players stood on the sidelines amid a dearth of trading incentives.
A brokerage house official said that investors “did not need to make moves” ahead of market-moving events scheduled for next week, such as earnings announcements by major U.S. companies and monetary policy meetings by the Bank of Japan and the European Central Bank.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.