Dollar weaker around ¥112.50 in late Tokyo trading

The dollar weakened to levels around ¥112.50 in late trading Tuesday in Tokyo, weighed down by jitters over North Korea.

At 5 p.m., the dollar stood at ¥112.55-55, down from ¥113.00-00 at the same time Friday. The Tokyo market was closed Monday for a national holiday.

The euro was at $1.1765-1766, up from $1.1687-1688, and at ¥132.42-42, up from ¥132.07-09.

After slipping below ¥113 overseas on Friday, the dollar fluctuated at levels around ¥112.60 in early trading in Tokyo on Tuesday.

The U.S. currency briefly rose above ¥112.80, supported by purchases from Japanese importers and higher Tokyo stocks, traders said.

But its topside grew heavy in the absence of fresh incentives. The dollar was pushed back to around ¥112.60 toward late morning trading and moved narrowly at similar levels in the afternoon, traders said.

Financial market participants had braced for a possible missile launch by North Korea on Tuesday, the 72nd anniversary of the founding of its ruling Workers’ Party of Korea.

The absence of such a move helped boost Tokyo stocks. But currency market participants “were not in the mood to snap up dollars against yen amid persistent jitters over North Korea,” an official with a foreign exchange margin trading service firm said.

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