Dollar in mid-101 yen zone in Tokyo morning amid lack of trading cues
TOKYO (Kyodo) -- The U.S. dollar moved in a narrow range in the mid-101 yen zone Monday morning in Tokyo as a wait-and-see mood spread among market participants amid a lack of fresh market-moving incentives.
At noon, the dollar fetched 101.58-60 yen compared with 101.50-60 yen in New York and 101.57-58 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.3708-3708 and 139.25-26 yen against $1.3688-3698 and 139.05-15 yen in New York and $1.3718-3720 and 139.34-38 yen in Tokyo late Friday afternoon.
The dollar was confined in a tight range in subdued Tokyo morning trading, said Yuzo Sakai, manager of foreign exchange business promotion at Tokyo Forex & Ueda Harlow.
The U.S. currency was somewhat supported by Japanese importers' demand at one time, but the HSBC Flash China Manufacturing PMI for May due out on Thursday and Ukraine's presidential election in the weekend "are being viewed as possible risk-averse factors and capped the dollar's top side" against the safe-haven yen, Sakai said.
Market reaction was limited to the announcement earlier Monday that Japan's core private-sector machinery orders posted a record month-on-month rise of 19.1 percent in March.
"It is hard to confirm the economy's trend by the machinery orders alone in view of their volatile nature," Sakai added.