Dollar moves around ¥105 in Tokyo trading

2 weeks ago
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The dollar moved on a weaker note around ¥105 in Tokyo trading Friday, pressured by stock price falls amid growing fears over the coronavirus third wave.

At 5 p.m., the dollar stood at ¥105.04, down from ¥105.27 at the same time Thursday. The euro was at $ 1.1814, up from $ 1.1771, and at ¥124.12, up from ¥123.92.

In overseas trading, the dollar eased to around ¥105, weighed down by drops in European and U.S. stock markets after U.S. Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde voiced their concerns over the resurgence of the coronavirus pandemic in an online seminar held by the ECB.

In the Tokyo morning, the dollar fell into the ¥104.80 range on the Nikkei stock average’s pullback to snap its eight-day winning streak and position-squaring selling by Japanese exporters. The greenback regained strength to some extent later as the Nikkei resisted falling further.

“Now that the U.S. presidential election, which supplied many market-moving news, is over, only coronavirus-related developments are swaying the dollar-yen pair,” an official at a Japanese bank said.

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The Japan Times

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