The dollar was flat against the yen on Friday, with the dollar pressured by weakness in the Nikkei Stock Average as a result of investors trying to avoid risk.
The dollar maintained its overnight strength against the yen earlier in the session, following bright US indicators such as weekly unemployment claims, industrial output and the Federal Reserve Bank of Philadelphia’s business activity index.
But the dollar gave up earlier gain later on as stock market weakness invited buying of the Japanese currency, which is considered a safe haven in times of financial instability.
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