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Dollar at mid-120 yen level in early Tokyo trading.

TOKYO, April 22 Kyodo

The U.S. dollar hovered around the mid-120 yen level in early Tokyo trading Tuesday, little changed from its late Monday level in New York.

At 9 a.m., the dollar was quoted at 120.50-54 yen, compared with Monday's 5 p.m. quotes of 120.40-50 yen in New York and 120.08-12 yen in Tokyo.

The euro traded at $1.0857-0861 and 130.85-89 yen at 9 a.m. against $1.0865-0875 and 130.90-131.00 yen at 5 p.m. Monday in New York.

In New York on Monday, the dollar performed strongly throughout the day with U.S. stocks steady, though they ended lower.

The yen was also sold against the euro. Players bought the euro to invest in high-yield European bond purchases, with the yen being sold against the dollar in the process.
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Publication:Japan Weekly Monitor
Geographic Code:1U2NY
Date:Apr 28, 2003
Words:142
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