News Column

Dollar trades in lower 104 yen range in early Tokyo deals

August 24, 2014

The U.S. dollar traded in the lower 104 yen range early Monday morning in Tokyo after rising above the 104 yen line in New York on Friday for the first time in about four and half months amid speculation about an early U.S. rate hike.

At 9 a.m., the dollar fetched 104.21-23 yen compared with 103.88-98 yen in New York and 103.76-77 yen in Tokyo at 5 p.m. Friday.

The euro was quoted at $1.3196-3198 and 137.52-53 yen against $1.3235-3245 and 137.53-63 yen in New York and $1.3286-3288 and 137.86-90 yen in Tokyo late Friday afternoon.

In New York on Friday, the dollar briefly rose to 104.20 yen after U.S. central bank chief Janet Yellen's remarks about data suggesting faster labor market improvement were taken to mean an interest rate hike could come earlier than expected.

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Source: Japan Economic Newswire

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