The US dollar moved little against the yen Thursday in Tokyo to stay close to the 16-month high it reached the previous day, despite climbing local stock prices. At 5 p.m. (0800 GMT), the dollar was quoted at 113.07-09 yen, compared with Wednesday's 5 p.m. quotes of 113.06-16 yen in New York and 112.96-99 yen in Tokyo. It traded between 112.85 yen and 113.17 yen during the day, most frequently at 112.97 yen. The euro was quoted at 1.2053-2055 dollar and 136.29-33 yen, against Wednesday's 5 p.m. quotes of 1.2030-2040 dollar and 136.09-19 yen in New York, and 1.2032-2035 dollar and 135.94-98 yen in Tokyo.
Dealers said the dollar's basic strength against the other major currencies on expectations of a further rise in US interest rates would not easily be subdued.
But dealers suggested at the same time that trading incentives in connection with US interest rates have started to lack freshness, saying they will focus more on prospects for the Japanese economy.
Market players are awaiting the release of Japan's industrial production data and the Bank of Japan's Tankan survey -- the most closely watched barometer of business confidence -- due out Fridayand next Monday, respectively. Analysts project an improvement in the two data. Enditem
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