The dollar pared early losses to move around ¥109.50 in late Tokyo trading Friday, thanks to a rise in U.S. interest rates.
At 5 p.m., the dollar stood at ¥109.50, almost flat from ¥109.51 at the same time Thursday. The euro was at $1.1898, up from $1.1883, and at ¥130.29, up from ¥130.13.
The dollar eased into the ¥109.20 zone around midmorning after real demand-backed buying by Japanese importers and selling by exporters were over. The dollar-yen pair, then, lost momentum without fresh news.
In the late afternoon, the dollar climbed past ¥109.50 in response to a rise in U.S. long-term interest rates, traders said.
Despite its slide through ¥110, “the dollar remains firm,” a Japanese bank official said.
The dollar’s appreciation against the British pound amid growing concerns about the side effects of British pharmaceutical giant AstraZeneca PLC’s coronavirus vaccine also helped the U.S. currency consolidate vis-a-vis the yen, another source said.
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