News Column

Dollar trades in lower 102 yen range in early Tokyo deals

August 12, 2014

The dollar traded in the lower 102 yen range early Wednesday morning in Tokyo, showing little reaction to a sharp contraction in Japan's gross domestic data for the April to June quarter.

At 9 a.m., the dollar fetched 102.28-29 yen compared with 102.21-31 yen in New York and 102.28-29 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.3365-3366 and 136.70-71 yen against $1.3365-3375 and 136.65-75 yen in New York and $1.3366-3368 and 136.71-75 yen in Tokyo late Tuesday afternoon.

Japan's GDP shrank an annualized real 6.8 percent in the quarter in the wake of the consumption tax hike in April, the government said earlier in the day.

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Source: Japan Economic Newswire

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