The US dollar shortly glided above the ¥120 key level Thursday although it backed off, as investors swiftly profited on that ground.
Against the Japanese yen, the greenback traded at ¥119.77. The currency closed at $1.0705 per euro.
For the first time since April 14, the dollar broke above the ¥120 earlier, backed by the improved sentiment which has kept the Nikkei Stock Average above the 20,000 mark.
Investors were still wary about the US dollar purchasing before next week’s FOMC meeting, said Takuya Kanda, Senior Researcher at Gaitame.Com Research Institute.
The material has been provided by InstaForex Company – www.instaforex.com