TOKYO , Dec. 11 -- ( Kyodo ) _ The U.S. dollar hovered in the upper 102 yen zone Wednesday morning in Tokyo , brought down from the previous day's six-and-a-half month high amid a risk-averse mood due to lackluster showings by U.S. and European stocks. At noon, the dollar fetched 102.81-85 yen compared with 102.78-88 yen in New York and 103.24-26 yen in Tokyo at 5 p.m. Tuesday . The euro was quoted at $1.3747-3751 and 141.34-36 yen against $1.3756-3766 and 141.44-54 yen in New York and $1.3749-3750 and 141.95-99 yen in Tokyo late Tuesday afternoon. While the dollar also suffered from a fall in U.S. long-term interest rates, it is unlikely to decline significantly through the day, said Yuzo Sakai , manager of foreign exchange business promotion at Tokyo Forex & Ueda Harlow . "The general mood is still that of yen depreciation," but market players are seeing this as an opportunity to make position adjustments before the U.S. Federal Reserve's policy-setting meeting next week, he said. "Even if the dollar drops further, it'll be supported by purchases around the 102.50 yen line," he added. Data showing Japan's core machinery orders increased 0.6 percent in October from the previous month and wholesale prices rose 2.7 percent in November from a year earlier had little effect on currency trading, Sakai said. The euro maintained its strength against the dollar a day after hitting a six-week high against the U.S. unit. The European Central Bank made no policy changes last week, leaving the common currency to benefit from a relatively high interest rate and year-end repatriation of foreign currency.
Most Popular Stories
- Photo ID Required for Unemployment Benefits
- Software Writers Sought in Indiana
- Ukraine Crisis Limits Losses in Gold, Silver
- Can GOP Dodge Immigration Bullet?
- Tech Firms to Increase Hiring for 4th Year in a Row
- Job Fair for S.C. Grads
- How Past Mistakes Will Drive Ukraine's Future
- Chiquita, Fyffes to Form Top Banana
- Millennials Favor Saving Over Investing: UBS
- Big Earthquake Rumbles Northern California