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Dollar stays at lower 109 yen in early Tokyo trading.

TOKYO, Aug. 23 Kyodo

The U.S. dollar traded in the lower 109 yen level early Monday Monday: see week.   in Tokyo, up slightly from its level late Friday Friday: see Sabbath; week.

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At 9 a.m., the dollar was quoted at 109.24-27 yen against Friday's 5 p.m. quotes of 109.05-15 yen in New York and 109.10-13 yen in Tokyo.

The euro was quoted at $1.2311-2313 and 134.50-54 yen, compared with $1.2315-2325 and 134.50-60 yen at 5 p.m. Friday in New York.

In New York on Friday, the dollar was directionless amid a lack of trading incentives, dealers said.

With growing uncertainties over the outlook of both the Japanese and U.S. economies due to recent rises in crude oil prices, market participants were holding back from buying either the yen or the dollar, they said.
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Publication:Japan Weekly Monitor
Date:Aug 30, 2004
Words:141
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