• JIJI

  • SHARE

The dollar fluctuated mostly between ¥106.00 and ¥106.20 in Tokyo trading Friday, tracing U.S. long-term interest rates’ movements.

At 5 p.m., the dollar stood at ¥106.08-08 yen, slightly up from ¥106.00 at the same time Thursday. The euro was at $1.2134, down from $1.2187, and at ¥128.72, down from ¥129.19.

The dollar temporarily weakened to around ¥105.80 in the morning after the 10-year U.S. Treasury yield stopped rising in off-hours trading and the 225-issue Nikkei average turned sharply lower.

The greenback recouped the lost ground to move around ¥106.20 in midafternoon trading thanks to the key U.S. interest rate going up again. But it was pushed down by selling stemming from the Nikkei’s loss of over 1,200 points at the closing.

Players said the dollar-yen pair is expected to remain vulnerable to U.S. interest rate movements next week.

If closely watched U.S. economic indicators due out next week, such as the Labor Department’s employment report for February, beat market consensuses, the interest rate may rise further to push up the dollar, a Japanese bank official said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW