Dollar stays in upper 159 yen amid caution over Japan intervention

The U.S. dollar was mostly flat in the upper 159 yen range early Tuesday in Tokyo amid wariness over a possible yen-buying intervention by Japanese authorities after it neared the 160 yen threshold the previous day.

At 9 a.m., the dollar fetched 159.70-71 yen compared with 159.52-62 yen in New York and 159.68-70 yen in Tokyo at 5 p.m. Monday.

The yen was also weak against the euro, after nearing its record low overnight in New York.

The euro was quoted at $1.0732-0733 and 171.39-42 yen against $1.0729-0739 and 171.28-38 yen in New York and $1.0712-0714 and 171.06-10 yen in Tokyo late Monday afternoon.

Tokyo stocks opened higher, supported by overnight gains on the U.S. Dow Jones index.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 112.64 points, or 0.29 percent, from Monday to 38,917.29. The broader Topix index was up 25.49 points, or 0.93 percent, at 2,765.68.

On the top-tier Prime Market, gainers were led by real estate, securities house and transportation equipment issues.

© Kyodo News