TOKYO , Jan. 8 -- ( Kyodo ) _ The U.S. dollar topped the 105 yen line for the first time in almost a week on Wednesday in Tokyo , driven higher by upbeat U.S. trade data before the release later in the day of the minutes of the U.S. Federal Reserve's December meeting. At 5 p.m. , the dollar fetched 105.05-07 yen compared with 104.55-65 yen in New York and 104.35-37 yen in Tokyo at 5 p.m. Tuesday . It moved between 104.60 yen and 105.13 yen during the day, changing hands most frequently at 104.90 yen . The euro was quoted at $1.3616-3618 and 143.04-08 yen against $1.3611-3621 and 142.38-48 yen in New York and $1.3618-3620 and 142.11-15 yen in Tokyo late Tuesday afternoon. The dollar climbed past the 105 yen line for the first time since Jan. 2 , maintaining its strength overnight on data released Tuesday showing the U.S. trade deficit shrank in November to its lowest level since October 2009 . The dollar's rise was bolstered by importers buying the U.S. currency on expectations it is unlikely to drop significantly in the near future, said a senior dealer at a major Japanese bank. On the upcoming release of the minutes of the Fed's December policy meeting, market players will be looking at "how smoothly talk of early tapering went down and what sorts of arguments were made against it" in the meeting, said Toru Moritani , chief market economist at Sumitomo Mitsui Banking Corp. At its December meeting, the U.S. central bank decided to scale back its monthly asset purchases to $75 billion from $85 billion . The minutes may also provide clues about whether the Fed will stick to or enhance its forward policy guidance to keep interest rates low as it cuts back its stimulus, Moritani added. The euro was mostly unchanged against the dollar but gained against the yen. The strong performance of Tokyo stocks following similar strength in European and U.S. equity markets also prompted market players to sell the safe-haven yen for the euro. Data released Tuesday estimating the eurozone inflation rate fell 0.8 percent in December from 0.9 percent in the previous month had little effect on currency trading as market expectations are leaning toward the European Central Bank not making major policy changes at its meeting on Thursday, dealers said.
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