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JP: Dollar static above ¥111 ahead of Golden Week holidays
 
The dollar was static modestly above ¥111 in Tokyo trading on Friday, with traders retreating to the sidelines ahead of the Golden Week holiday period in Japan.

At 5 p.m., the dollar stood at ¥111.28-28, almost unchanged from ¥111.27-27 at the same time Thursday. The euro was at $1.0885-0886, down from $1.0905-0905, and at ¥121.13-14, down from ¥121.33-40.

The greenback’s topside was capped by U.S. President Donald Trump’s reported remarks warning a “major, major conflict” between his country and North Korea if diplomacy fails, traders said.

The euro came under selling after European Central Bank President Mario Draghi, at an overnight news conference, indicated that the ECB has no plans to end its monetary easing policy anytime soon.

The Tokyo market will be open only on Monday and Tuesday next week, due to national holidays from Wednesday.

During the holidays in Japan, there will be key overseas events including a policy-setting meeting of the U.S. Federal Reserve, the release of U.S. jobs data for April and the French presidential runoff.

“There’s no need to move now,” said an official at a foreign exchange brokerage house.

Source