TOKYO: The U.S. dollar stayed in the upper 118 yen zone Monday morning in Tokyo, inheriting its tone set in New York on Friday when sluggish U.S. business spending data limited its upside.
At noon, the dollar fetched 118.88-89 yen compared with 118.94-119.04 yen in New York and 119.28-30 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0864-0864 and 129.15-17 yen against $1.0870-0880 and 129.27-37 yen in New York and $1.0875-0880 and 129.74-78 yen in Tokyo late Friday afternoon.
The dollar fluctuated narrowly around the 119 yen line in the morning.
“The dollar was solid but didn’t show a rebound (versus the yen) on diminishing expectations of an early U.S. interest rate hike due to weak durable goods data,” said Yuzo Sakai, manager of foreign exchange business promotion at Tokyo Forex & Ueda Harlow.
In a U.S. durable goods report for March, nondefense capital goods orders excluding aircraft, seen as a leading indicator for business spending activity, decreased 0.5 percent from a month earlier, falling short of market expectations.The euro moved little against both the dollar and the yen, the dealers said.
