The dollar eased to around ¥108.70 in lackluster Tokyo trading Friday.
At 5 p.m., the dollar stood at ¥108.69-69, down from ¥108.98-98 at the same time Thursday. The euro was at $1.2216-2217, up from $1.2202-2202, and at ¥132.79-80, down from ¥132.97-98.
After trading around ¥108.80, the dollar edged higher thanks to the Nikkei stock average’s rise and Japanese importers’ demand for settlements.
But the greenback fell close to ¥108.70 in response to a drop in U.S. long-term interest rates in off-hours trading.
Overall, the dollar-yen pair remained calm amid a dearth of trading incentives, a trust bank official said.
The dollar is expected to move between ¥108.50 and ¥109.50 next week, a currency broker said.
Although senior U.S. Federal Reserve officials’ remarks may provide buying incentives, the dollar is unlikely to rise above levels around ¥109.50, where sell orders are lining up, the broker pointed out.
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