Dollar weakens to around ¥110.65 in Tokyo

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The dollar eased to around ¥110.65 in Tokyo trading Monday, due partly to real demand-backed selling.

At 5 p.m., the dollar stood at ¥110.64, down from ¥110.75 at the same time Friday. The euro was at $1.1941, down from $1.1947, and at ¥132.12, down from ¥132.31.

After trading around ¥110.80, the dollar slipped through ¥110.70 around midmorning on selling by Japanese exporters.

The Nikkei stock average’s 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 ¥110.70 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.

“Term-end factors may have led to the pound’s appreciation,” a currency broker said.

Players refrained from active trading to wait for key U.S. economic data, including the Institute for Supply Management’s…

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