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The dollar fell modestly to around ¥103.50 in Tokyo trading Thursday, amid risk sentiment increasing on the back of stock rises.

At 5 p.m., the dollar stood at ¥103.52, down from ¥103.73 at the same time Wednesday. The euro was at $1.2119, down from $1.2155, and at ¥125.46, down from ¥126.08.

The dollar eased to around ¥103.50 in overnight trading, with investors moving to sell the greenback to buy riskier assets in view of the Dow Jones Industrial Average and the tech-heavy Nasdaq composite index rewriting their closing highs in the U.S. stock market Wednesday.

Risk assets attracted buying as Joe Biden was smoothly sworn in as U.S. president, brokers said.

The dollar rose close to ¥103.70 in midmorning trading on buying by Japanese importers for settlement purposes. But it quickly lost steam.

In the afternoon, the U.S. currency temporarily slipped through ¥103.40, weighed down by a fall in U.S. long-term interest rates in off-hours trading.

The dollar-yen pair reacted little to the Bank of Japan’s decision to keep its ultraeasy policy at its two-day policy board meeting that ended Thursday.

There was no surprise in BOJ Gov. Haruhiko Kuroda’s remarks at a news conference held after the meeting, a currency broker said.

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