The dollar edged up to levels above ¥ 103.60 in calm Tokyo on Tuesday, helped by the Nikkei average rise of 225 benchmark issues.
At 5 p.m., the dollar was valued at ¥ 103.68, compared to ¥ 103.45 at the same time on Monday. The euro was at $ 1.2239, up slightly from $ 1.2231, and ¥ 126.95, after ¥ 126.53.
The dollar hovered above ¥ 103.70 in early Tokyo as the Nikkei rose and importers bought for settlement, but was quickly pushed back due to the sell off.
The greenback eased further at the end of the session due to the effects of purchases of European currencies against the dollar.
“The market was devoid of active business incentives because it has already dealt with large factors of interest,” said an official at a Japanese bank.
Market participants were focused on the second round of the U.S. Senate elections in the state of Georgia scheduled for Jan.5, while remaining concerned about the continued global spread of the novel coronavirus, a currency broker said.
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