The dollar eased to around ¥109.50 in relatively quiet Tokyo trading Thursday, in line with a fall in U.S. long-term interest rates.
At 5 p.m., the dollar stood at ¥109.51, down from ¥109.78 at the same time Wednesday. The euro was at $1.1883, up from $1.1878, and at ¥130.13, down from ¥130.41.
The dollar gradually lost ground against the yen after moving in ¥109.80 territory in the morning, pressured by Japanese exporters’ selling and the 225-issue Nikkei average’s downturn.
But the greenback did not fall markedly, thanks to a halt in the U.S. interest rates’ slide, traders said.
In the afternoon, however, the dollar sank to around ¥109.50, as the U.S. rates fell.
“With buying only on rosy expectations having receded, the dollar-yen pair has restored calm,” a currency broker said.
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