The dollar eased to around ¥103.80 in Tokyo trading Thursday amid worries over rising coronavirus infections.
At 5 p.m., the dollar was at ¥103.83, slightly down from ¥103.88 at the same time Wednesday. The euro was at $1.1844, down from $1.1881, and at ¥122.99, down from ¥123.43.
The dollar moved narrowly in directionless trading.
A surge in coronavirus cases "weighed on sentiment," putting a downward pressure on the dollar, an official at a foreign exchange margin trading service provide said. There are concerns of a virus resurgence delaying global economic recovery.
There is risk aversion in principle, a securities house official said. But there are also expectations of "finding a way out (of the virus crisis) once the timing of vaccine deployment is actually decided," the official said.
Market players were also awaiting the outcome of a summit of European Union leaders to be held online later on Thursday.
The dollar may fall below ¥103 if stocks plunge but will be supported by hopes for U.S. coronavirus relief spending, an official at a Japanese bank said.
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