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Dollar recovers to lower 100 yen range in early Tokyo trade

Xinhua, August 17, 2016 Adjust font size:

The U.S. dollar traded in the lower 100 yen zone in early deals on Wednesday in Tokyo, recovering from dropping to the 99 yen level range logged overnight in New York.

At the start of trading, the dollar was quoted at 100.20-22 yen compared with 100.25-35 yen in New York and 100.31-33 yen at 5 p.m. in Tokyo on Tuesday.

The euro, meanwhile, fetched 1.1278-1278 dollars and 113.02-04 yen against 1.1274-1284 dollars and 113.07-17 yen in New York and 1.1270-1271 dollars and 113.05-09 yen, in late trade on Tuesday afternoon.

The dollar lost ground verses the Japanese currency overnight owing to economic data in the U.S. raising prospects the U.S. Federal Reserve may hike its key interest rate earlier than markets had anticipated. Endit