The dollar moved mostly above the ¥109 threshold in Tokyo trading Tuesday, on the back of increased risk appetite.
At 5 p.m., the dollar stood at ¥108.81, up from ¥108.49 at the same time Monday. The euro was at $1.1879, down from $1.1886, and at ¥129.26, up from ¥128.96.
Carrying over its strength from overseas trading, the dollar rose to hit nine-month highs above ¥109.20 in the late morning, with players stepping up yen selling in view of the 225-issue Nikkei average’s rebound, a securities firm official said.
After going sideways in the ¥109.10 zone amid a dearth of fresh trading incentives, the greenback slipped through ¥108.90 in late trading, weighed down by profit-taking and a fall in U.S. long-term interest rates in off-hours trading, traders said.
“The dollar’s rise to breach the technically significant threshold made players feel a sense of accomplishment and allowed them to lock in gains,” said an official at a foreign exchange margin trading service firm.
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