• Jiji


The dollar retook ¥110.00 in Tokyo on Friday, helped by a rebound in U.S. interest rates.

At 5 p.m., the dollar stood at ¥110.16 up from ¥109.76 at the same time Thursday. The euro was at $1.1801, down from $1.1835, and at ¥130.00, up from ¥129.90.

The dollar gathered upward momentum after moving around ¥109.80 in the early morning, thanks to buying by Japanese importers for settlement purposes and a rise in U.S. long-term interest rates in off-hours trading. The greenback hit levels around ¥110.00 toward midmorning.

The dollar remained static mostly in the afternoon, with players retreating to the sidelines ahead of the weekend.

However, the U.S. currency climbed close to ¥110.20 after European investors joined trading in late hours.

Pointing to dovish comments made by U.S. Federal Reserve Chairman Jerome Powell at congressional hearings earlier this week, a currency broker said the dollar failed to go up further amid growing expectations that the U.S. interest rate rebound would be “short-lived.”

Some players refrained from active transactions to wait for U.S. retail sales data for June to be released later in the day, traders said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.