The dollar climbed to around ¥105.20 in Tokyo trading Monday, pulled up by a rise in Japan’s 225-issue Nikkei average.
At 5 p.m., the dollar stood at ¥105.17, up from ¥104.92 at the same time Friday. The euro was at $1.2131, up from $1.2115, and at ¥127.59, up from ¥127.12.
The dollar got a boost from the Nikkei’s rise above 30,000 for the first time in over 30 years and the strength of the euro and currencies of resource-rich nations.
Players were fewer than usual as markets in China and the United States are closed Monday for holidays.
An official at a Japanese bank said that players are “reacting to stock prices and interest rates at home and abroad, while looking for new trading incentives.”
There is an increasing risk-on mood thanks to higher stock and crude oil prices, making both the dollar and the yen susceptible to selling. But a currency broker said “the dollar is firmer against the yen due to higher U.S. long-term interest rates.”
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