The dollar dropped to around ¥104 in Tokyo trading Friday, weighed down by a fall in the Nikkei stock average.
At 5 p.m., the dollar stood at ¥104.05, down from ¥104.47 at the same time Thursday. The euro was at $1.2130, up from $1.2090, and at ¥126.22, down from ¥126.31.
Carrying over its weakness from overseas trading stemming from the European Central Bank’s decision to beef up its quantitative easing, the dollar fluctuated around ¥104.20 early in the morning.
Later, the dollar slipped through the ¥104 line in response to the Nikkei’s downturn. Selling was accelerated by Japanese exporters.
In the afternoon, the greenback moved narrowly around ¥104 amid a dearth of fresh trading incentives.
European players’ dollar purchases against the euro and other European currencies amid heightened concerns over the post-Brexit trade talks between Britain and the European Union made the U.S. currency’s downside firm vis-a-vis the yen, traders said.
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