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Dollar moves at mid-105 yen level in early Tokyo trading.

TOKYO, May 30 Kyodo

The U.S. dollar traded at the mid-105 yen level early Friday in Tokyo, following its rise in overnight trading in New York where optimism spread over the U.S. economic outlook.

At 9 a.m., the dollar was quoted at 105.55-58 yen, compared with 105.44-54 yen in New York and 104.98-105.01 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.5514-5519 and 163.84-89 yen against

$1.5514-5524 and 163.73-83 yen in New York and $1.5587-5591 and 163.68-72 yen in Tokyo late Thursday.

In New York overnight, the dollar was bought mainly on the upward revision of January-March U.S. gross domestic product to an annualized real 0.9 percent from an initially reported 0.6 percent, dealers said.

The dollar climbed to 105.88 yen at one point, its highest level since late February.
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Publication:Japan Weekly Monitor
Date:Jun 2, 2008
Words:152
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