Dollar static around ¥109.50 in Tokyo
The dollar was static around ¥109.50 in calm Tokyo trading Thursday, with investors retreating to the sidelines ahead of important overseas events.
At 5 p.m., the dollar stood at ¥109.54, up from ¥109.45 at the same time Wednesday. The euro was at $1.2160, down from $1.2183, and at ¥133.21, down from ¥133.34.
After moving above ¥109.60 in early trading, the dollar dropped to around ¥109.50 in the midmorning on selling induced by the strength of the Chinese yuan against the greenback reflecting media reports that U.S. and Chinese commerce ministers agreed to promote cooperation on trade and investment.
The U.S. currency then fluctuated in a narrow band amid a wait-and-see mood ahead of the release of the U.S. consumer price index for May and the European Central Bank’s policy-setting meeting later in the day.
In late trading, the greenback firmed somewhat on the back of…