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The dollar fell to around ¥104.30 in Tokyo trading Thursday, pressured by selling amid a growing risk-on mood.

At 5 p.m., the dollar stood at ¥104.31, down from ¥104.56 at the same time Wednesday. The euro was at $1.2121, up from $1.2069, and at ¥126.45, up from ¥126.20.

The dollar struggled for direction at levels around ¥104.55 until late afternoon, sandwiched between buying on coronavirus vaccine hopes and selling on a dismal U.S. economic outlook.

But after European players’ participation, the greenback succumbed to selling activated by moves in the United States toward a fresh stimulus deal, traders said.

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