The dollar inched up to levels above ¥103.60 in quiet Tokyo trading Tuesday, helped by the rise of the benchmark 225-issue Nikkei average.

At 5 p.m., the dollar stood at ¥103.68, up from ¥103.45 at the same time Monday. The euro was at $1.2239, slightly up from $1.2231, and at ¥126.95, up from ¥126.53.

The dollar hovered above ¥103.70 in early Tokyo trading on the Nikkei’s rise and buying by importers for settlement purposes, but it was soon pushed back due to selling.

The greenback eased further in late trading due to the effects of purchases of European currencies versus the dollar.

“The market was devoid of active trading incentives, as it has already dealt with major factors of interest,” an official at a Japanese bank said.

Market players were focusing on the U.S. Senate runoff elections in the state of Georgia slated for Jan. 5, while staying concerned about the continued global spread of the novel coronavirus, a currency broker said.

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