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The dollar rose to around ¥105.50 in Tokyo trading Friday, attracting real demand-backed purchases.

At 5 p.m., the dollar stood at ¥105.49, up from ¥105.19 at the same time Thursday. The euro was at $1.1963, down from $1.2008, and at ¥126.22, down from ¥126.31.

Following a rise to around ¥105.50 in overseas trading the previous day, the dollar topped ¥105.60 in the early morning thanks to Japanese importers’ active buying for settlement purposes. But the greenback slipped through ¥105.50 later as Japanese exporters boosted position-squaring selling.

“Momentum for dollar buying receded in response to a fall in U.S. long-term interest rates in off-hours trading,” a currency broker said.

The dollar then moved tightly around ¥105.50 in the afternoon as market participants retreated to the sidelines to wait for the U.S. government’s employment report for January, due out later on Friday.

With the dollar approaching the currently perceived topside around ¥105.70, players increasingly see the U.S. currency’s uptrend coming to an end, market sources said.

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