Dollar edges down in upper 108 yen range as BOJ stands pat on policy

Source: Xinhua | 2019-07-31

The U.S. dollar edged lower in the upper 108 yen zone in Tokyo on Tuesday as market sentiment was dented by the Bank of Japan (BOJ) standing pat on its monetary policy, while the U.S. Federal Reserve is highly likely to cut its rate later in the week.
The dollar was quoted at 108.64-65 yen at 5:00 p.m. local time, compared with 108.73-83 yen in New York and 108.64-65 yen at 5:00 p.m. on Monday in Tokyo.
During the day, it tracked between 108.57 yen and 108.95 yen and was traded most frequently at the 108.78 yen mark.
The euro, meanwhile, fetched 1.1143-1145 dollars and 121.06-10 yen against 1.1140-1150 dollars and 121.19-29 yen in New York and 1.1120-1121 dollars and 120.81-85 yen in late Monday afternoon trade in Tokyo.