The dollar fell to around ¥109.30 in late Tokyo trading Tuesday, as risk-averse selling took the upper hand.
At 5 p.m., the dollar stood at ¥109.31, down from ¥109.45 at the same time Monday. The euro was at $1.1902, up from $1.1872, and at ¥130.12, up from ¥129.95.
The dollar kept gaining ground from the early morning and surpassed ¥109.70 in the early afternoon, supported by rises in the 225-issue Nikkei average and U.S. long-term interest rates in off-hours trading.
“But the greenback saw selling pressure strengthen as it approached ¥110 yen, despite the 10-year Treasury yield’s climb to 1.7%,” an official at a foreign exchange margin trading service firm said.
Active dollar buying was also held in check ahead of the releases later in the day of Germany’s ZEW economic sentiment index for April and the U.S. consumer price index for March.
In late afternoon trading joined by European players, the dollar quickly dropped close to ¥109.30.
“Risk-averse buying of the yen” against the dollar gained momentum on the back of medium-term anxieties over the global economy and international situations, a currency broker said.
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