The dollar eased to around ┬е110.65 in Tokyo trading Monday, due partly to real demand-backed selling.
At 5 p.m., the dollar stood at ┬е110.64, down from ┬е110.75 at the same time Friday. The euro was at $1.1941, down from $1.1947, and at ┬е132.12, down from ┬е132.31.
After trading around ┬е110.80, the dollar slipped through ┬е110.70 around midmorning on selling by Japanese exporters.
The Nikkei stock averageтАЩs weakness and a fall in U.S. long-term interest rates in off-hours trading also weighed on the greenback.
Buying the dip lifted the U.S. currency close to ┬е110.70 at one point in the afternoon. But the dollar came under renewed selling pressure vis-a-vis the yen after losing ground against the euro and the British pound.
тАЬTerm-end factors may have led to the poundтАЩs appreciation,тАЭ a currency broker said.
Players refrained from active trading to wait for key U.S. economic data, including the Institute for Supply ManagementтАЩs manufacturing purchasing managersтАЩ index for June, due out on Thursday, and the Labor DepartmentтАЩs employment report for the same month, on Friday, traders said.
тАЬWith U.S. interest rates and stock prices turning motionless prior to the jobs report, the dollar-yen pair struggled for direction,тАЭ a Japanese investment adviser said.
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