Dollar edges down to lower 116 yen level in Tokyo

The U.S. dollar slipped to the lower 116 yen level on Monday in Tokyo as it remained under pressure on rising speculation that a slowing U.S. economy might prompt the U.S. Federal Reserve to cut interest rates by the end of the year.

At 5 p.m., the dollar was quoted at 116.22-25 yen, compared with Friday's 5 p.m. quotes of 116.51-61 yen in New York and 116. 40-43 yen in Tokyo.

It traded between 116.13 yen and 116.69 yen during the day, most frequently at 116.32 yen.

The euro was quoted at 1.2784-2787 dollars and 148.60-148.64 yen against Friday's 5 p.m. quotes of 1.2778-2788 dollars and 148. 99-149.09 yen in New York and 1.2819-2822 dollars and 149.24-28 yen in Tokyo.

Source: Xinhua