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Dollar rises above ¥113 in Tokyo

JIJI

The dollar advanced above ¥113 in Tokyo trading on Friday, backed by higher Tokyo stock prices.

At 5 p.m., the dollar stood at ¥113.14, up from ¥112.57-58 at the same time Thursday. The euro was at 1.2057 dollars, up from 1.2027 dollars, and at ¥136.43, up from ¥135.41.

The dollar was firmer around ¥112.70 in early trading, carrying over its strength from overseas trading overnight.

Market participants took heart from brisk U.S. economic data announced Thursday, traders said.

The dollar’s topside was slightly limited in midmorning trading, but the U.S. currency drew some buying before noon and climbed above ¥112.80.

In the afternoon, the dollar topped ¥113 due to gradual growth in purchases as the benchmark 225-issue Nikkei average gained further ground toward the close.

A foreign exchange broker said that the dollar attracted some purchases as the Nikkei rose more than 200 points in the afternoon.

With attention focusing on U.S. jobs data for December, to be released later on Friday, however, “market traders found it difficult to step up dollar purchases,” said a major Japanese bank official.

An official of a foreign exchange margin trading service firm said that the dollar is likely to get a boost if nonfarm payrolls and the average hourly earnings in the jobs data turn out to be brisk.